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| 2005-12-19 22:29:48 | Baltimore Miners | | Drop | Joe Miller | |
| 2005-12-19 19:08:08 | Seattle Cougars | | Drop | Wilt Sizemore | |
| 2005-12-19 19:02:44 | Seattle Cougars | | Drop | James Bentley | |
| 2005-12-19 10:49:16 | New Orleans Hurricanes | | Drop | Bryon Glidewell | |
| 2005-12-19 01:50:26 | Louisville Colonels | Alton Hilton | Add/Drop | Brendan Schmidt | |
| 2005-12-19 01:46:36 | Louisville Colonels | Brendan Schmidt | Add/Drop | Terrell Lyle | |
| 2005-12-18 20:14:00 | Miami Macho Men | Rayshard Edens | Acquired via trade | Ricky Downes | Kansas City Wildcats |
| 2005-12-18 20:10:00 | New Orleans Hurricanes | 1st round pick in season 12 | Acquired via trade | Dante Highley | Sacramento Rainbow Trout |
| 2005-12-18 20:10:00 | New Orleans Hurricanes | 1st round pick in season 13 | Acquired via trade | 1st round pick in season 14 | Sacramento Rainbow Trout |
| 2005-12-18 20:10:00 | New Orleans Hurricanes | Wally Lacefield | Acquired via trade | | Sacramento Rainbow Trout |
| 2005-12-18 20:10:00 | New Orleans Hurricanes | 3rd round pick in season 12 | Acquired via trade | | Sacramento Rainbow Trout |
| 2005-12-18 20:10:00 | New Orleans Hurricanes | 2nd round pick in season 13 | Acquired via trade | | Sacramento Rainbow Trout |
| 2005-12-18 20:10:00 | New Orleans Hurricanes | 3rd round pick in season 13 | Acquired via trade | | Sacramento Rainbow Trout |
| 2005-12-18 19:56:00 | San Francisco Golden Gators | 1st round pick in season 12 | Acquired via trade | Matt Goins | Indianapolis Tornadoes |
| 2005-12-18 19:56:00 | San Francisco Golden Gators | 1st round pick in season 14 | Acquired via trade | 2nd round pick in season 12 | Indianapolis Tornadoes |
| 2005-12-18 19:52:00 | Seattle Cougars | 1st round pick in season 12 | Acquired via trade | 1st round pick in season 13 | Phoenix Kangaroos |
| 2005-12-18 19:52:00 | Seattle Cougars | 2nd round pick in season 12 | Acquired via trade | | Phoenix Kangaroos |
| 2005-12-18 19:52:00 | Seattle Cougars | 2nd round pick in season 12 | Acquired via trade | | Phoenix Kangaroos |
| 2005-12-18 19:50:00 | Kansas City Wildcats | Devin Proctor | Acquired via trade | 1st round pick in season 12 | Phoenix Kangaroos |
| 2005-12-18 18:50:00 | St. Louis 5th Alarm | Darryl Hurst | Acquired via trade | Jarvis Willman | Indianapolis Tornadoes |
| 2005-12-18 18:50:00 | St. Louis 5th Alarm | Giles Howe | Acquired via trade | | Indianapolis Tornadoes |
| 2005-12-18 18:50:00 | St. Louis 5th Alarm | 1st round pick in season 12 | Acquired via trade | | Indianapolis Tornadoes |
| 2005-12-18 18:48:00 | Philadelphia Assassins | 1st round pick in season 12 | Acquired via trade | Elliott Maupin | Milwaukee Sundancers |
| 2005-12-18 18:46:00 | Los Angeles Cacti | 1st round pick in season 12 | Acquired via trade | Tariq Montgomery | Portland Hipsters |
| 2005-12-18 16:02:00 | Phoenix Kangaroos | 1st round pick in season 12 | Acquired via trade | 1st round pick in season 12 | San Francisco Golden Gators |