Transactions listed are from July 1, 2004 to
June 30, 2005.
- August 5, 2004
Signed Mike James as a free agent.
Signed Zendon Hamilton as a free agent.
- August 21, 2004
Signed Mo Williams as a free agent.
- September 23, 2004
Signed Jelani McCoy as a free agent.
- October 28, 2004
Waived Jelani McCoy.
- November 3, 2004
Signed Anthony Goldwire as a free agent.
- November 4, 2004
Signed Marcus Fizer as a free agent.
- November 29, 2004
Released Anthony Goldwire.
- December 6, 2004
Signed Kendall Gill as a free agent.
- December 18, 2004
Signed Eddie House as a free agent.
- January 5, 2005
Waived Kendall Gill.
- January 7, 2005
- February 24, 2005
Traded Zendon Hamilton and Mike James to the Houston Rockets for Reece Gaines, a 2006 2nd round draft pick (David Noel was later selected) and a 2007 2nd round draft pick (Ramon Sessions was later selected).
- March 7, 2005
Signed Anthony Goldwire to a contract for the rest of the season.
- June 28, 2005
Drafted Ersan Ilyasova in the 2nd round (36th pick) of the 2005 NBA Draft.
Drafted Andrew Bogut in the 1st round (1st pick) of the 2005 NBA Draft.