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| 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 |
| 2004-08-22 08:00:00 | San Antonio Brothas | Denny Cole | Acquired via trade | Steve Schutz | Philadelphia Assassins |
| 2004-08-22 08:00:00 | San Antonio Brothas | Oliver Veal | Acquired via trade | 3rd round pick in season 08 | Philadelphia Assassins |
| 2004-08-22 08:00:00 | San Antonio Brothas | 2nd round pick in season 09 | Acquired via trade | 1st round pick in season 10 | Philadelphia Assassins |
| 2004-08-22 08:00:00 | San Antonio Brothas | Acquired via trade | | Philadelphia Assassins |
| 2004-08-22 07:48:14 | Baltimore Miners | | Drop | D.J. Hall | |
| 2004-08-22 07:17:42 | Detroit Gear Daddies | | Drop | Jan Mefford | |
| 2004-08-22 06:55:36 | Toronto Huskies | Woodrow Wiley | Add/Drop | Percy Brent | |
| 2004-08-22 06:40:52 | Chicago Hilltoppers | | Drop | Saul Baker | |
| 2004-08-22 06:30:34 | Syracuse River Rats | | Drop | Jack Yurt | |
| 2004-08-22 06:30:06 | Syracuse River Rats | | Drop | Parker Humphrey | |