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| 2005-04-21 18:00:00 | Seattle Cougars | 1st round pick in season 10 | Acquired via trade | Raphael Zabel | Phoenix Kangaroos |
| 2005-04-21 18:00:00 | Seattle Cougars | 1st round pick in season 10 | Acquired via trade | 3rd round pick in season 12 | Phoenix Kangaroos |
| 2005-04-21 18:00:00 | Seattle Cougars | 1st round pick in season 10 | Acquired via trade | | Phoenix Kangaroos |
| 2005-04-21 18:00:00 | Seattle Cougars | 2nd round pick in season 10 | Acquired via trade | | Phoenix Kangaroos |
| 2005-04-21 18:00:00 | Seattle Cougars | 3rd round pick in season 10 | Acquired via trade | | Phoenix Kangaroos |
| 2005-04-21 18:00:00 | Seattle Cougars | 3rd round pick in season 10 | Acquired via trade | | Phoenix Kangaroos |
| 2005-04-19 23:38:00 | Indianapolis Tornadoes | Tom Waddle | Acquired via trade | Eddie Pickett | St. Louis 5th Alarm |
| 2005-04-19 23:38:00 | Indianapolis Tornadoes | Hubert Elkin | Acquired via trade | | St. Louis 5th Alarm |
| 2005-04-19 23:36:00 | Salt Lake City Night Hawks | 1st round pick in season 10 | Acquired via trade | Damian Teague | Portland Hipsters |
| 2005-04-19 23:34:00 | Phoenix Kangaroos | 1st round pick in season 10 | Acquired via trade | Armon Lang | Salt Lake City Night Hawks |
| 2005-04-19 23:34:00 | Phoenix Kangaroos | 2nd round pick in season 10 | Acquired via trade | | Salt Lake City Night Hawks |
| 2005-04-19 23:34:00 | Phoenix Kangaroos | 3rd round pick in season 10 | Acquired via trade | | Salt Lake City Night Hawks |
| 2005-04-19 23:32:00 | Orlando Bombers | Jamison Simon | Acquired via trade | Charles Conway | Indianapolis Tornadoes |
| 2005-04-19 23:32:00 | Orlando Bombers | 2nd round pick in season 11 | Acquired via trade | Denzel Hopkins | Indianapolis Tornadoes |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | Tony Lawrence | Acquired via trade | 1st round pick in season 10 | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | Jessie Worth | Acquired via trade | Todd Tucker | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | Ricky Stone | Acquired via trade | Raphael Zabel | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | Rahmier Harding | Acquired via trade | Ron Jackman | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | Tandre Canter | Acquired via trade | | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | 3rd round pick in season 10 | Acquired via trade | | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | Leon Dulaney | Acquired via trade | | Seattle Cougars |
| 2005-04-19 23:30:00 | Indianapolis Tornadoes | 3rd round pick in season 11 | Acquired via trade | | Seattle Cougars |
| 2005-03-16 00:01:50 | South Dakota Blackhawks | Dominic Ruhl | Add/Drop | Donnell Rich | |
| 2005-03-16 00:00:16 | South Dakota Blackhawks | Miguel Pendleton | Add/Drop | Tariq Dougherty | |
| 2005-03-14 11:59:12 | Caracas Crocodiles | | Drop | Keith Patrick | |