Transactions listed are from July 1, 1987 to
June 30, 1988.
- October 6, 1987
Signed Tod Murphy as a free agent.
- November 9, 1987
Waived Tod Murphy.
- January 20, 1988
Signed Michael Phelps to a 10-day contract.
- February 3, 1988
Waived Norris Coleman.
- February 26, 1988
Waived Lancaster Gordon.
- March 7, 1988
Signed Claude Gregory to the first of two 10-day contracts.
- March 18, 1988
Signed Steve Burtt to two 10-day contracts, then signed to a contract for the rest of the season.
- March 23, 1988
Signed Eric White to the first of two 10-day contracts.
Waived Martin Nessley.
- March 28, 1988
Signed Claude Gregory as a free agent.
- April 12, 1988
Signed Eric White as a free agent.
- June 23, 1988
- June 28, 1988
Drafted Danny Manning in the 1st round (1st pick) of the 1988 NBA Draft.
Drafted Hersey Hawkins in the 1st round (6th pick) of the 1988 NBA Draft.
Drafted Tom Garrick in the 2nd round (45th pick) of the 1988 NBA Draft.
Drafted Rob Lock in the 3rd round (51st pick) of the 1988 NBA Draft.