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| 2005-12-25 08:07:56 | Salt Lake City Night Hawks | | Drop | Erik Ludwig | |
| 2005-12-25 08:06:16 | Salt Lake City Night Hawks | | Drop | LaRon Kahl | |
| 2005-12-25 08:02:32 | Los Angeles Cacti | Quincy Varga | Add/Drop | Ray Bradford | |
| 2005-12-25 07:43:10 | San Francisco Golden Gators | Cirius Alexander | Add/Drop | Jamaal Kessler | |
| 2005-12-25 03:57:34 | Miami Macho Men | | Drop | Blair Diehl | |
| 2005-12-25 03:50:14 | Phoenix Kangaroos | | Drop | Amos Maier | |
| 2005-12-24 20:04:00 | San Francisco Golden Gators | Jamaal Kessler | Acquired via trade | Dakota Rowland | New York Warriors |
| 2005-12-24 20:04:00 | San Francisco Golden Gators | 2nd round pick in season 12 | Acquired via trade | | New York Warriors |
| 2005-12-24 20:04:00 | San Francisco Golden Gators | 2nd round pick in season 14 | Acquired via trade | | New York Warriors |
| 2005-12-24 20:02:00 | Salt Lake City Night Hawks | Geoffrey Sheffield | Acquired via trade | 2nd round pick in season 12 | Portland Hipsters |
| 2005-12-24 20:00:00 | Las Vegas Dark Knights | 1st round pick in season 12 | Acquired via trade | Gregor Kim | Phoenix Kangaroos |
| 2005-12-24 20:00:00 | Las Vegas Dark Knights | 1st round pick in season 13 | Acquired via trade | | Phoenix Kangaroos |
| 2005-12-24 13:09:46 | Seattle Cougars | | Drop | Hank Dicken | |
| 2005-12-24 06:12:42 | Louisville Colonels | | Drop | Anthony Parsley | |
| 2005-12-24 00:00:00 | Seattle Cougars | Claus Buckner | Acquired via waivers | | Waiver |
| 2005-12-24 00:00:00 | Louisville Colonels | Homer Hopkins | Acquired via waivers | | Waiver |
| 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 |