Transactions listed are from July 1, 2004 to
June 30, 2005.
- July 14, 2004
Traded 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) to the Los Angeles Lakers for Shaquille O'Neal.
- July 15, 2004
Signed Michael Doleac as a free agent.
- July 22, 2004
Signed Keyon Dooling as a free agent.
- August 6, 2004
Signed Damon Jones as a free agent.
- August 11, 2004
Signed Wesley Person as a free agent.
- September 15, 2004
Signed Christian Laettner as a free agent.
- November 14, 2004
Signed Shandon Anderson as a free agent.
Waived Matt Freije.
- January 26, 2005
Waived Jerome Beasley.
Signed Qyntel Woods as a free agent.
- February 24, 2005
- March 1, 2005
Waived Wesley Person.
Signed Alonzo Mourning as a free agent.
- June 28, 2005
Drafted Wayne Simien in the 1st round (29th pick) of the 2005 NBA Draft.