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| Exclude Promote/Demote Transactions | | |
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| 2003-08-23 16:00:00 | Phoenix Kangaroos | Kordell Kern | Acquired via trade | Hank Goldman | Philadelphia Assassins |
| 2003-08-23 07:21:16 | Toronto Huskies | Chris McCubbins | Add/Drop | | |
| 2003-08-23 07:11:38 | Salt Lake City Night Hawks | Dale Fischer | Add/Drop | Adam Markham | |
| 2003-08-23 06:08:06 | Santo Domingo Lazy Dogs | | Drop | Drew OKeefe | |
| 2003-08-23 03:42:16 | Charlotte Rangers | Maurice Steele | Add/Drop | Richard Pirtle | |
| 2003-08-23 03:07:28 | Calgary Cougars | | Drop | Jimmy Garcia | |
| 2003-08-23 01:45:18 | Winnipeg Warriors | Dave Nunn | Add/Drop | | |
| 2003-08-23 01:36:58 | Milwaukee Sundancers | Rick Proctor | Add/Drop | | |
| 2003-08-23 01:25:20 | South Dakota Blackhawks | Glen Flint | Add/Drop | | |
| 2003-08-23 00:35:54 | Quebec Buzz | | Drop | Glen Flint | |
| 2003-08-21 20:00:00 | Los Angeles Cacti | 2nd round pick in season 06 | Acquired via trade | Cal Courtney | Philadelphia Assassins |
| 2003-08-18 20:00:00 | Sacramento Rainbow Trout | Jay Parsley | Acquired via trade | 2nd round pick in season 05 | Las Vegas Dark Knights |
| 2003-08-17 04:00:00 | Seattle Cougars | 1st round pick in season 05 | Acquired via trade | 1st round pick in season 05 | Los Angeles Cacti |
| 2003-08-17 04:00:00 | Seattle Cougars | 2nd round pick in season 05 | Acquired via trade | 2nd round pick in season 05 | Los Angeles Cacti |
| 2003-08-17 04:00:00 | Seattle Cougars | Clem Owsley | Acquired via trade | | Los Angeles Cacti |
| 2003-08-16 10:30:00 | Baltimore Miners | Reuben Jewell | Acquired via trade | Marcel Beam | Phoenix Kangaroos |
| 2003-08-16 10:30:00 | Baltimore Miners | 1st round pick in season 06 | Acquired via trade | | Phoenix Kangaroos |
| 2003-08-16 10:00:00 | Minneapolis Bricklayers | Elgin George | Acquired via trade | Dakota Neville | Phoenix Kangaroos |
| 2003-08-16 10:00:00 | Minneapolis Bricklayers | 2nd round pick in season 05 | Acquired via trade | | Phoenix Kangaroos |
| 2003-08-16 10:00:00 | Minneapolis Bricklayers | 2nd round pick in season 06 | Acquired via trade | | Phoenix Kangaroos |
| 2003-08-16 09:00:00 | Orlando Bombers | Wayne Gary | Acquired via trade | Spencer Downey | Los Angeles Cacti |
| 2003-08-16 09:00:00 | Orlando Bombers | 1st round pick in season 06 | Acquired via trade | | Los Angeles Cacti |
| 2003-08-16 08:30:00 | Atlanta Eels | Nathaniel Keane | Acquired via trade | | Boston Bannerman |
| 2003-08-16 08:30:00 | Atlanta Eels | LeRoy Suell | Acquired via trade | | San Antonio Brothas |
| 2003-08-16 08:30:00 | Atlanta Eels | 2nd round pick in season 05 | Acquired via trade | | Philadelphia Assassins |