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| 2004-04-21 22:04:00 | Los Angeles Cacti | 2nd round pick in season 09 | Acquired via trade | | Seattle Cougars |
| 2004-04-21 22:02:00 | Seattle Cougars | 2nd round pick in season 07 | Acquired via trade | Ty Goben | San Francisco Golden Gators |
| 2004-04-21 22:02:00 | Seattle Cougars | 3rd round pick in season 07 | Acquired via trade | | San Francisco Golden Gators |
| 2004-04-21 22:00:00 | New York Warriors | Arnie Warren | Acquired via trade | Wayne Fischer | Seattle Cougars |
| 2004-04-21 22:00:00 | New York Warriors | Thomas Mader | Acquired via trade | Jessie Worth | Seattle Cougars |
| 2004-04-21 22:00:00 | New York Warriors | 1st round pick in season 07 | Acquired via trade | 1st round pick in season 07 | Seattle Cougars |
| 2004-04-21 22:00:00 | New York Warriors | 2nd round pick in season 07 | Acquired via trade | | Seattle Cougars |
| 2004-04-21 18:32:38 | Green Bay Miners | | Drop | Dave Nunn | |
| 2004-04-21 18:02:58 | Baltimore Miners | Kenny Pratt | Add/Drop | Carlton Baumgardner | |
| 2004-04-21 17:51:56 | Baltimore Miners | Steve Nix | Add/Drop | William Marshall | |
| 2004-04-21 16:32:54 | Philadelphia Assassins | Scott Cundiff | Add/Drop | | |
| 2004-04-21 11:05:22 | Hartford Hebrew Hammers | Horton Hammer | Add/Drop | | |
| 2004-04-21 09:16:10 | Mexico City Aztecs | | Drop | Forrest Keller | |
| 2004-04-21 09:14:22 | Mexico City Aztecs | | Drop | Toby Swan | |
| 2004-04-21 08:58:40 | Nashville Night Owls | Derick Wells | Add/Drop | Luis Lynn | |
| 2004-04-21 08:55:18 | Nashville Night Owls | Mel Wilder | Add/Drop | Wayne Henson | |
| 2004-04-21 08:24:32 | Miami Macho Men | Bob Brewster | Add/Drop | Robert Silliman | |
| 2004-04-21 08:20:22 | Mexico City Aztecs | | Drop | D.J. Hall | |
| 2004-04-21 08:15:14 | Miami Macho Men | Jimmy Graven | Add/Drop | Royce Milham | |
| 2004-04-21 07:49:14 | Toronto Huskies | Bradley Pearson | Add/Drop | Lee Hogue | |
| 2004-04-21 07:19:48 | Buffalo Bombers | | Drop | Pete Markham | |
| 2004-04-21 07:17:20 | Buffalo Bombers | | Drop | Dan Childs | |
| 2004-04-21 07:00:28 | Louisville Colonels | | Drop | George Walsh | |
| 2004-03-17 14:04:54 | Buffalo Bombers | Lee Hogue | Add/Drop | | |
| 2004-03-17 10:54:22 | Winnipeg Warriors | Brock MacDonald | Add/Drop | | |