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| 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 | |
| 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 |