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| 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 |
| 2006-05-01 17:23:46 | Charlotte Rangers | | Drop | Tracy Lindsey | |
| 2006-05-01 17:12:12 | Charlotte Rangers | | Drop | Barrett Lee | |
| 2006-05-01 17:10:46 | Charlotte Rangers | | Drop | Elias Goodin | |
| 2006-05-01 17:09:38 | Charlotte Rangers | | Drop | Terrell Carroll | |
| 2006-05-01 17:07:06 | Charlotte Rangers | | Drop | Micah Maxwell | |
| 2006-05-01 16:18:50 | San Antonio Brothas | Hal Cook | Add/Drop | Daunte Stanton | |
| 2006-05-01 10:25:12 | San Antonio Brothas | Roy Gbiv | Add/Drop | Ronnie Waggoner | |
| 2006-05-01 10:01:00 | Milwaukee Sundancers | Austin Scanlon | Add/Drop | Dwayne Geiger | |
| 2006-05-01 09:03:48 | Milwaukee Sundancers | Dwayne Geiger | Add/Drop | | |
| 2006-05-01 08:56:04 | Milwaukee Sundancers | Stanley Hastings | Add/Drop | | |
| 2006-05-01 08:47:32 | Milwaukee Sundancers | Reggie Hagan | Add/Drop | Linus Wooldridge | |