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| 2003-04-22 07:00:00 | San Francisco Golden Gators | George Louden | Acquired via trade | | Milwaukee Sundancers |
| 2003-04-22 07:00:00 | San Francisco Golden Gators | Dean McCubbins | Acquired via trade | | Milwaukee Sundancers |
| 2003-04-22 07:00:00 | Los Angeles Cacti | 3rd round pick in season 05 | Acquired via trade | | Toronto Huskies |
| 2003-04-22 07:00:00 | Salt Lake City Night Hawks | 1st round pick in season 05 | Acquired via trade | | Milwaukee Sundancers |
| 2003-04-22 07:00:00 | Milwaukee Sundancers | Owen Rouben | Acquired via trade | | Los Angeles Cacti |
| 2003-04-22 07:00:00 | Milwaukee Sundancers | Eddie Wilkinson | Acquired via trade | | Philadelphia Assassins |
| 2003-04-22 07:00:00 | Milwaukee Sundancers | Ivan McGuire | Acquired via trade | | Philadelphia Assassins |
| 2003-04-22 07:00:00 | Milwaukee Sundancers | Percy Sammons | Acquired via trade | | Philadelphia Assassins |
| 2003-04-22 07:00:00 | Philadelphia Assassins | Ron Sampson | Acquired via trade | | Salt Lake City Night Hawks |
| 2003-04-22 07:00:00 | San Francisco Golden Gators | 2nd round pick in season 05 | Acquired via trade | | Salt Lake City Night Hawks |
| 2003-04-22 06:40:00 | Phoenix Kangaroos | Tim Koch | Acquired via trade | Antonio Klein | Philadelphia Assassins |
| 2003-04-22 06:30:00 | Milwaukee Sundancers | Matt Feirer | Acquired via trade | Lamar Self | New York Warriors |
| 2003-04-22 06:22:16 | Tampa Runner-ups | | Drop | Jack Wantland | |
| 2003-04-21 22:00:00 | San Antonio Brothas | John Thorne | Acquired via trade | Wayne Kidd | Philadelphia Assassins |
| 2003-04-21 22:00:00 | San Antonio Brothas | Bob Gambill | Acquired via trade | Devin Cornwell | Philadelphia Assassins |
| 2003-04-21 22:00:00 | Philadelphia Assassins | Kincaid Dennison | Acquired via trade | | San Antonio Brothas |
| 2003-04-21 21:38:02 | Vancouver Mounties | | Drop | Wiley Ogden | |
| 2003-04-21 17:20:44 | Seattle Cougars | | Drop | Michael Ennis | |
| 2003-04-21 15:41:20 | Green Bay Miners | | Drop | Bert Denney | |
| 2003-04-21 14:24:16 | Tampa Runner-ups | | Drop | Evan Poe | |
| 2003-04-21 13:32:46 | Buffalo Bombers | | Drop | Tad Trevino | |
| 2003-04-21 09:15:32 | Detroit Gear Daddies | | Drop | Zack Culver | |
| 2003-04-21 05:35:52 | Calgary Cougars | | Drop | Colby Denzik | |
| 2003-04-21 00:08:14 | Green Bay Miners | Greg Warfield | Add/Drop | Dewey Fendley | |
| 2003-04-20 23:43:06 | Green Bay Miners | | Drop | Vinnie Caldwell | |