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| 2002-12-29 18:08:00 | Phoenix Kangaroos | 2nd round pick in season 04 | Acquired via trade | Karl White | Salt Lake City Night Hawks |
| 2002-12-29 18:06:00 | Phoenix Kangaroos | Chris Alesso | Acquired via trade | | Toronto Huskies |
| 2002-12-29 18:04:00 | Atlanta Eels | Dale Sanders | Acquired via trade | | Toronto Huskies |
| 2002-12-29 18:02:00 | Salt Lake City Night Hawks | Steve Wolf | Acquired via trade | Ray Mills | Atlanta Eels |
| 2002-12-29 18:00:00 | Salt Lake City Night Hawks | 1st round pick in season 04 | Acquired via trade | Royce Milham | Miami Macho Men |
| 2002-12-29 17:00:32 | Jacksonville Speed | | Drop | Rick Dahl | |
| 2002-12-29 08:20:10 | Tampa Runner-ups | | Drop | Kenneth Elder | |
| 2002-12-29 06:20:48 | Santiago Sharks | | Drop | Cecil Weakley | |
| 2002-12-29 05:48:36 | Jacksonville Speed | | Drop | Jim Tyson | |
| 2002-12-29 03:46:28 | Knoxville Wampus Cats | | Drop | Grant Van Horn | |
| 2002-12-29 03:05:36 | Hartford Hebrew Hammers | | Drop | Jonathan Kahl | |
| 2002-12-29 03:03:20 | Quebec Buzz | | Drop | Dion Leslie | |
| 2002-12-28 23:45:58 | Buffalo Bombers | | Drop | Brent Garvey | |
| 2002-12-28 21:25:36 | Knoxville Wampus Cats | | Drop | Neil Greene | |
| 2002-12-28 20:48:28 | San Juan Devils | | Drop | Kellen Bernard | |
| 2002-12-28 20:06:20 | Buffalo Bombers | | Drop | Howard Knauer | |
| 2002-12-28 20:00:00 | Winnipeg Warriors | Leslie Harden | Acquired via trade | Thomas Mader | South Dakota Blackhawks |
| 2002-12-28 20:00:00 | Winnipeg Warriors | Bruce Donaldson | Acquired via trade | | South Dakota Blackhawks |
| 2002-12-28 16:00:00 | Las Vegas Dark Knights | Daniel Penick | Acquired via trade | 1st round pick in season 04 | Boston Bannerman |
| 2002-12-28 14:17:18 | Santiago Sharks | | Drop | Ronald Stinson | |
| 2002-12-28 10:11:20 | Winnipeg Warriors | | Drop | Keith Gibbs | |
| 2002-12-28 04:25:12 | Santa Fe Zeppelins | | Drop | William Summitt | |
| 2002-12-28 02:47:54 | Tampa Runner-ups | | Drop | Trent Greene | |
| 2002-12-28 00:44:28 | Los Angeles Cacti | | Drop | Rick Polk | |
| 2002-12-28 00:25:30 | Quebec Buzz | | Drop | Timothy Waits | |