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| 2004-08-23 13:39:34 | San Juan Devils | | Drop | Lee Dover | |
| 2004-08-23 13:38:36 | San Juan Devils | | Drop | Lance Stern | |
| 2004-08-23 13:06:50 | Phoenix Kangaroos | | Drop | Ricky Money | |
| 2004-08-23 10:52:16 | Las Vegas Dark Knights | | Drop | Russ Maier | |
| 2004-08-23 10:45:34 | Knoxville Wampus Cats | | Drop | Ty Turner | |
| 2004-08-23 10:15:00 | Las Vegas Dark Knights | Tyler Money | Add/Drop | Antoine OKeefe | |
| 2004-08-23 09:33:14 | Caracas Crocodiles | | Drop | Isaac Elder | |
| 2004-08-23 09:32:28 | Caracas Crocodiles | | Drop | Fairleigh Doerr | |
| 2004-08-23 07:11:56 | Buffalo Bombers | | Drop | Richard Voit | |
| 2004-08-22 15:59:46 | Philadelphia Assassins | Buford Prescott | Add/Drop | | |
| 2004-08-22 13:58:44 | Edmonton SilverShoes | Rob Hand | Add/Drop | Armon Montgomery | |
| 2004-08-22 13:57:50 | Edmonton SilverShoes | Forrest Keller | Add/Drop | | |
| 2004-08-22 13:55:34 | Edmonton SilverShoes | Brendan Wilcox | Add/Drop | | |
| 2004-08-22 11:38:10 | Little Rock Fighting Farmers | | Drop | Timmy Jacobs | |
| 2004-08-22 11:02:08 | San Francisco Golden Gators | | Drop | Tony Downes | |
| 2004-08-22 10:44:44 | Hartford Hebrew Hammers | | Drop | Javier Nett | |
| 2004-08-22 10:33:34 | Hartford Hebrew Hammers | | Drop | Terance Wilkins | |
| 2004-08-22 10:26:22 | Hartford Hebrew Hammers | | Drop | Clyde Tackett | |
| 2004-08-22 10:25:06 | Atlanta Eels | | Drop | Lucas Rutherford | |
| 2004-08-22 10:16:26 | Knoxville Wampus Cats | | Drop | Jacquez Fairleigh | |
| 2004-08-22 08:20:00 | Boston Bannerman | Jerald Barnett | Acquired via trade | Kevin Fury | Los Angeles Cacti |
| 2004-08-22 08:20:00 | Boston Bannerman | Xavier Beck | Acquired via trade | 1st round pick in season 08 | Los Angeles Cacti |
| 2004-08-22 08:20:00 | Boston Bannerman | 2nd round pick in season 08 | Acquired via trade | | Los Angeles Cacti |
| 2004-08-22 08:10:00 | Seattle Cougars | 2nd round pick in season 08 | Acquired via trade | Ricky Richie | Los Angeles Cacti |
| 2004-08-22 08:10:00 | Seattle Cougars | 2nd round pick in season 08 | Acquired via trade | | Los Angeles Cacti |