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| 2002-12-27 12:04:58 | Mexico City Aztecs | | Drop | Montez Schultz | |
| 2002-12-27 11:36:52 | Denver Ferris Wheels | | Drop | Ray Rexroat | |
| 2002-12-27 10:21:44 | South Dakota Blackhawks | Russ Redmon | Add/Drop | Bob Glass | |
| 2002-12-27 05:20:02 | San Juan Devils | | Drop | Curtis Vittitow | |
| 2002-12-27 03:44:08 | Tampa Runner-ups | | Drop | Harold Wells | |
| 2002-12-27 02:54:56 | Hartford Hebrew Hammers | | Drop | Drew Lyon | |
| 2002-12-27 01:27:24 | Quebec Buzz | | Drop | Dejuan Lyons | |
| 2002-12-22 18:00:00 | Phoenix Kangaroos | Scott Cundiff | Acquired via trade | Ray Nugent | Philadelphia Assassins |
| 2002-12-22 18:00:00 | Phoenix Kangaroos | Duane Lane | Acquired via trade | | Philadelphia Assassins |
| 2002-12-22 18:00:00 | Phoenix Kangaroos | 1st round pick in season 04 | Acquired via trade | | Philadelphia Assassins |
| 2002-12-22 17:30:00 | Phoenix Kangaroos | 2nd round pick in season 04 | Acquired via trade | Ray Downes | Denver Ferris Wheels |
| 2002-12-16 17:00:00 | Atlanta Eels | Alec Pfeiffer | Acquired via trade | Thomas Mader | Milwaukee Sundancers |
| 2002-12-16 16:02:00 | Los Angeles Cacti | 2nd round pick in season 03 | Acquired via trade | | Denver Ferris Wheels |
| 2002-12-16 16:00:00 | Denver Ferris Wheels | Glen Ramsey | Acquired via trade | Jesus Tharp | Los Angeles Cacti |
| 2002-12-14 04:00:00 | Los Angeles Cacti | 1st round pick in season 03 | Acquired via trade | 1st round pick in season 03 | Salt Lake City Night Hawks |
| 2002-12-14 04:00:00 | Los Angeles Cacti | 2nd round pick in season 03 | Acquired via trade | Todd Gossman | Salt Lake City Night Hawks |
| 2002-12-13 22:00:00 | Philadelphia Assassins | Lucas Rutherford | Acquired via trade | Scott Cundiff | Atlanta Eels |
| 2002-12-11 22:00:00 | San Diego Sabercats | Ronald Kane | Acquired via trade | John Holloway | Los Angeles Cacti |
| 2002-12-11 22:00:00 | San Diego Sabercats | Ivan Kronovic | Acquired via trade | 1st round pick in season 03 | Los Angeles Cacti |
| 2002-12-11 22:00:00 | San Diego Sabercats | 2nd round pick in season 03 | Acquired via trade | | Los Angeles Cacti |
| 2002-12-11 22:00:00 | San Diego Sabercats | 1st round pick in season 03 | Acquired via trade | | Quebec Buzz |
| 2002-12-11 08:00:00 | Los Angeles Cacti | Barry Hahn | Acquired via trade | Carl Shipley | Atlanta Eels |
| 2002-12-11 08:00:00 | Los Angeles Cacti | 2nd round pick in season 03 | Acquired via trade | | Atlanta Eels |
| 2002-12-10 16:00:00 | Milwaukee Sundancers | Acquired via trade | 1st round pick in season 03 | Philadelphia Assassins |
| 2002-12-10 16:00:00 | Milwaukee Sundancers | Marques Loyd | Acquired via trade | James Roman | Philadelphia Assassins |