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| 2005-12-24 00:00:00 | Louisville Colonels | Shantae Jansen | Acquired via waivers | | Waiver |
| 2005-12-24 00:00:00 | Louisville Colonels | Terrell Lyle | Acquired via waivers | | Waiver |
| 2005-12-24 00:00:00 | Louisville Colonels | Edison Black | Acquired via waivers | | Waiver |
| 2005-12-23 16:18:00 | Phoenix Kangaroos | 1st round pick in season 14 | Acquired via trade | 3rd round pick in season 12 | San Francisco Golden Gators |
| 2005-12-23 16:16:00 | Phoenix Kangaroos | 1st round pick in season 12 | Acquired via trade | 1st round pick in season 12 | San Francisco Golden Gators |
| 2005-12-23 16:16:00 | Phoenix Kangaroos | 1st round pick in season 12 | Acquired via trade | | San Francisco Golden Gators |
| 2005-12-23 16:16:00 | Phoenix Kangaroos | 1st round pick in season 13 | Acquired via trade | | San Francisco Golden Gators |
| 2005-12-23 16:14:00 | New York Warriors | 1st round pick in season 12 | Acquired via trade | Seth Fuchs | Cincinnati Skyliners |
| 2005-12-23 16:12:00 | Indianapolis Tornadoes | Sheldon Parsons | Acquired via trade | | St. Louis 5th Alarm |
| 2005-12-23 16:10:00 | Salt Lake City Night Hawks | Anton Webb | Acquired via trade | 1st round pick in season 12 | Los Angeles Cacti |
| 2005-12-23 16:10:00 | Salt Lake City Night Hawks | 1st round pick in season 12 | Acquired via trade | | Los Angeles Cacti |
| 2005-12-23 16:10:00 | Salt Lake City Night Hawks | Jodie Twyman | Acquired via trade | 1st round pick in season 12 | Los Angeles Cacti |
| 2005-12-23 16:10:00 | Salt Lake City Night Hawks | 1st round pick in season 14 | Acquired via trade | | Los Angeles Cacti |
| 2005-12-23 16:08:00 | Boston Bannerman | Isaiah Madden | Acquired via trade | 1st round pick in season 14 | Salt Lake City Night Hawks |
| 2005-12-23 16:08:00 | Boston Bannerman | Tracy Lindsey | Acquired via trade | | Salt Lake City Night Hawks |
| 2005-12-23 16:08:00 | Boston Bannerman | Bert Goodrich | Acquired via trade | | Salt Lake City Night Hawks |
| 2005-12-23 16:06:00 | Las Vegas Dark Knights | Dennis Irvin | Acquired via trade | Russell Olson | Philadelphia Assassins |
| 2005-12-23 16:06:00 | Las Vegas Dark Knights | 1st round pick in season 12 | Acquired via trade | | Philadelphia Assassins |
| 2005-12-23 16:06:00 | Las Vegas Dark Knights | 1st round pick in season 12 | Acquired via trade | | Philadelphia Assassins |
| 2005-12-23 16:04:00 | Kansas City Wildcats | Blaine Fry | Acquired via trade | Jaime Hardin | Indianapolis Tornadoes |
| 2005-12-23 16:02:00 | Salt Lake City Night Hawks | 1st round pick in season 12 | Acquired via trade | Brenden Hoffman | Phoenix Kangaroos |
| 2005-12-23 16:02:00 | Salt Lake City Night Hawks | 1st round pick in season 12 | Acquired via trade | | Phoenix Kangaroos |
| 2005-12-23 16:00:00 | Indianapolis Tornadoes | 1st round pick in season 12 | Acquired via trade | Rahmier Harding | New Orleans Hurricanes |
| 2005-12-23 15:04:28 | St. Louis 5th Alarm | | Drop | Tyron Kearney | |
| 2005-12-23 15:03:14 | St. Louis 5th Alarm | | Drop | Antony Berka | |