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| 2004-08-22 06:05:48 | Syracuse River Rats | | Drop | Jack Hite | |
| 2004-08-22 06:05:42 | Los Angeles Cacti | | Drop | Ricky Richie | |
| 2004-08-22 05:43:22 | Syracuse River Rats | | Drop | Aron Vancleave | |
| 2004-08-22 05:42:40 | Syracuse River Rats | | Drop | Ronnie Stamper | |
| 2004-08-22 05:41:48 | Syracuse River Rats | | Drop | Connie Little | |
| 2004-08-22 05:40:36 | Syracuse River Rats | | Drop | Isaac Underhill | |
| 2004-08-22 04:10:14 | Mexico City Aztecs | | Drop | Oliver Dabney | |
| 2004-08-22 04:09:36 | Mexico City Aztecs | | Drop | Elton McQueen | |
| 2004-08-22 04:08:36 | Mexico City Aztecs | | Drop | Fernando Barnett | |
| 2004-08-22 04:00:00 | Los Angeles Cacti | 1st round pick in season 08 | Acquired via trade | Shazz Xavier | San Diego Sabercats |
| 2004-08-22 04:00:00 | Los Angeles Cacti | 2nd round pick in season 08 | Acquired via trade | 1st round pick in season 09 | San Diego Sabercats |
| 2004-08-22 04:00:00 | Los Angeles Cacti | 2nd round pick in season 08 | Acquired via trade | | San Diego Sabercats |
| 2004-08-22 04:00:00 | Los Angeles Cacti | 3rd round pick in season 08 | Acquired via trade | | San Diego Sabercats |
| 2004-08-22 04:00:00 | Los Angeles Cacti | Hank Dicken | Acquired via trade | | San Diego Sabercats |
| 2004-08-22 03:56:32 | Mexico City Aztecs | | Drop | Nikolas Reagan | |
| 2004-08-21 15:00:00 | Miami Macho Men | 1st round pick in season 08 | Acquired via trade | 1st round pick in season 08 | Salt Lake City Night Hawks |
| 2004-08-21 15:00:00 | Miami Macho Men | 2nd round pick in season 08 | Acquired via trade | | Salt Lake City Night Hawks |
| 2004-08-21 15:00:00 | Miami Macho Men | 3rd round pick in season 08 | Acquired via trade | | Salt Lake City Night Hawks |
| 2004-08-21 15:00:00 | Miami Macho Men | 3rd round pick in season 08 | Acquired via trade | | Salt Lake City Night Hawks |
| 2004-08-21 15:00:00 | Miami Macho Men | Claus Buckner | Acquired via trade | | Salt Lake City Night Hawks |
| 2004-08-21 14:50:00 | San Antonio Brothas | Todd Gossman | Acquired via trade | 2nd round pick in season 08 | Milwaukee Sundancers |
| 2004-08-21 14:40:00 | Salt Lake City Night Hawks | 1st round pick in season 08 | Acquired via trade | Nelson Eddington | St. Louis 5th Alarm |
| 2004-08-21 14:40:00 | Salt Lake City Night Hawks | 2nd round pick in season 08 | Acquired via trade | Burt Melton | St. Louis 5th Alarm |
| 2004-08-21 14:40:00 | Salt Lake City Night Hawks | 3rd round pick in season 08 | Acquired via trade | Kareem Summitt | St. Louis 5th Alarm |
| 2004-08-21 14:30:00 | Philadelphia Assassins | 1st round pick in season 08 | Acquired via trade | Ron Sampson | Atlanta Eels |