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| 2003-04-22 13:50:44 | Buffalo Bombers | | Drop | Shantae Fawbush | |
| 2003-04-22 12:34:56 | Hartford Hebrew Hammers | | Drop | Doug Allgeier | |
| 2003-04-22 10:11:48 | Little Rock Fighting Farmers | | Drop | Anthony Fore | |
| 2003-04-22 10:04:38 | San Francisco Golden Gators | | Drop | Nate Patrick | |
| 2003-04-22 09:29:06 | Winnipeg Warriors | | Drop | Brad Magill | |
| 2003-04-22 07:00:00 | Salt Lake City Night Hawks | Andrew Parker | Acquired via trade | Richard Hollingsworth | San Francisco Golden Gators |
| 2003-04-22 07:00:00 | Salt Lake City Night Hawks | Leo Safian | Acquired via trade | Sherm Poole | San Francisco Golden Gators |
| 2003-04-22 07:00:00 | Salt Lake City Night Hawks | 1st round pick in season 05 | Acquired via trade | | San Francisco Golden Gators |
| 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 | |