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| 2006-05-02 14:53:12 | Louisville Colonels | Mohammed Ellsworth | Add/Drop | Cal Courtney | |
| 2006-05-02 14:48:08 | Philadelphia Assassins | | Drop | Haywood Willinger | |
| 2006-05-02 14:43:36 | Philadelphia Assassins | Jesus Gahlinger | Add/Drop | Owen Rouben | |
| 2006-05-02 14:19:42 | San Antonio Brothas | | Drop | Tristen Nicoulin | |
| 2006-05-02 14:18:26 | San Antonio Brothas | | Drop | Edison Black | |
| 2006-05-02 11:01:46 | Boston Bannerman | | Drop | Girard Leonard | |
| 2006-05-02 10:56:58 | Boston Bannerman | | Drop | Jerald Conner | |
| 2006-05-02 07:54:10 | Memphis Express | Kendall Gomez | Add/Drop | | |
| 2006-05-02 07:50:36 | Memphis Express | | Drop | Michael Loyd | |
| 2006-05-02 07:38:16 | Memphis Express | | Drop | Ron Burgundy | |
| 2006-05-02 02:08:50 | Houston Octopods | | Drop | Cherokee Prewitt | |
| 2006-05-01 18:00:00 | Philadelphia Assassins | Joey Barlow | Acquired via trade | Eric Cowan | San Antonio Brothas |
| 2006-05-01 18:00:00 | Philadelphia Assassins | Leo Richard | Acquired via trade | Greg Steinmetz | San Antonio Brothas |
| 2006-05-01 17:58:00 | Milwaukee Sundancers | 3rd round pick in season 14 | Acquired via trade | Aron Whitfield | Philadelphia Assassins |
| 2006-05-01 17:56:00 | Milwaukee Sundancers | Peter Cooke | Acquired via trade | Scott Ganote | Los Angeles Cacti |
| 2006-05-01 17:54:00 | Kansas City Wildcats | Mario Hutcherson | Acquired via trade | 1st round pick in season 14 | Seattle Cougars |
| 2006-05-01 17:54:00 | Kansas City Wildcats | Jack Raines | Acquired via trade | Irwin Baugh | Seattle Cougars |
| 2006-05-01 17:54:00 | Kansas City Wildcats | Scotty Summers | Acquired via trade | Mack Hatton | Seattle Cougars |
| 2006-05-01 17:54:00 | Kansas City Wildcats | 3rd round pick in season 15 | Acquired via trade | Bo Daniel | Seattle Cougars |
| 2006-05-01 17:52:00 | San Francisco Golden Gators | 2nd round pick in season 15 | Acquired via trade | William Stith | San Antonio Brothas |
| 2006-05-01 17:52:00 | San Francisco Golden Gators | 1st round pick in season 15 | Acquired via trade | Alexander Black | San Antonio Brothas |
| 2006-05-01 17:50:00 | Atlanta Eels | Toby Baugh | Acquired via trade | Jesse Hart | Miami Macho Men |
| 2006-05-01 17:50:00 | Atlanta Eels | 2nd round pick in season 14 | Acquired via trade | | Miami Macho Men |
| 2006-05-01 17:40:00 | Indianapolis Tornadoes | Jessie Worth | Acquired via waivers | | Waiver |
| 2006-05-01 17:40:00 | Atlanta Eels | Isiah Whelan | Acquired via waivers | | Waiver |