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| 2003-04-03 16:00:00 | Milwaukee Sundancers | Neil Christensen | Acquired via trade | | Sacramento Rainbow Trout |
| 2003-04-03 16:00:00 | Philadelphia Assassins | Douglas Sandage | Acquired via trade | | Milwaukee Sundancers |
| 2003-04-03 15:30:00 | Philadelphia Assassins | 1st round pick in season 04 | Acquired via trade | Anton Queen | Atlanta Eels |
| 2003-04-03 15:00:00 | Los Angeles Cacti | 2nd round pick in season 04 | Acquired via trade | Jaime Hardin | Atlanta Eels |
| 2003-04-03 14:00:00 | Toronto Huskies | Jose Leslie | Acquired via trade | John Masters | Winnipeg Warriors |
| 2003-04-03 14:00:00 | Toronto Huskies | 1st round pick in season 04 | Acquired via trade | | Winnipeg Warriors |
| 2003-04-03 13:00:00 | Minneapolis Bricklayers | Felton Stone | Acquired via trade | Anton Merritt | Sacramento Rainbow Trout |
| 2003-04-03 13:00:00 | Minneapolis Bricklayers | Giles Fulkerson | Acquired via trade | | Sacramento Rainbow Trout |
| 2003-04-03 12:00:00 | Sacramento Rainbow Trout | Bruce Cameron | Acquired via trade | Andrew Wilston | Charlotte Rangers |
| 2003-04-03 12:00:00 | Sacramento Rainbow Trout | Travis Rosenberg | Acquired via trade | Paul Conway | Charlotte Rangers |
| 2003-04-03 11:00:00 | Phoenix Kangaroos | Tyron Penick | Acquired via trade | 1st round pick in season 04 | New York Warriors |
| 2003-04-03 10:00:00 | Seattle Cougars | 2nd round pick in season 04 | Acquired via trade | 1st round pick in season 04 | Phoenix Kangaroos |
| 2003-04-03 10:00:00 | Seattle Cougars | 1st round pick in season 05 | Acquired via trade | 2nd round pick in season 04 | Phoenix Kangaroos |
| 2003-04-03 10:00:00 | Seattle Cougars | 2nd round pick in season 05 | Acquired via trade | | Phoenix Kangaroos |
| 2003-03-14 06:21:38 | Ottawa Mt. Hawks | Emmett Menefee | Add/Drop | | |
| 2003-03-13 20:21:42 | Baltimore Miners | | Drop | Phil Harrell | |
| 2003-03-13 19:05:26 | Louisville Colonels | | Drop | Robbie Aubrey | |
| 2003-03-13 07:31:54 | Charlotte Rangers | Bruce Cameron | Add/Drop | Derick Kirk | |
| 2003-03-12 19:10:02 | Rio de Janeiro Red Storm | Randall Diemer | Add/Drop | Trevor Willinger | |
| 2003-03-12 18:13:44 | Charlotte Rangers | Zachary Whaley | Add/Drop | Peter Sears | |
| 2003-03-12 14:15:14 | Quebec Buzz | | Drop | Steve Kahl | |
| 2003-03-11 08:20:16 | Rio de Janeiro Red Storm | | Drop | Maurice Willoughby | |
| 2003-03-09 12:39:06 | Buffalo Bombers | Randall Bradley | Add/Drop | | |
| 2003-03-09 08:02:32 | Charlotte Rangers | Daniel Rausch | Add/Drop | | |
| 2003-03-09 07:39:18 | Rio de Janeiro Red Storm | Anthony Yarbrough | Add/Drop | Jack McClure | |