Transactions listed are from July 1, 2004 to
June 30, 2005.
- July 14, 2004
Traded Shaquille O'Neal to the Miami Heat for Caron Butler, Brian Grant, Lamar Odom, a 2006 1st round draft pick (Jordan Farmar was later selected) and a 2007 2nd round draft pick (Renaldas Seibutis was later selected).
- July 20, 2004
Signed Vlade Divac as a free agent.
- August 6, 2004
Signed Tony Bobbitt as a free agent.
- October 4, 2004
Signed Tierre Brown as a free agent.
- December 6, 2004
- June 28, 2005
Drafted Von Wafer in the 2nd round (39th pick) of the 2005 NBA Draft.
Drafted Ronny Turiaf in the 2nd round (37th pick) of the 2005 NBA Draft.
Drafted Andrew Bynum in the 1st round (10th pick) of the 2005 NBA Draft.