- July 11, 1977
Signed Jamaal Wilkes as a veteran free agent and sent cash and a 1978 1st round draft pick (Purvis Short was later selected) to the Golden State Warriors as compensation.
- September 7, 1977
Traded future considerations to the Buffalo Braves for Ernie DiGregorio.
- September 27, 1977
C.J. Kupec claimed on waivers by the Houston Rockets.
- September 30, 1977
Traded Ollie Johnson to the Atlanta Hawks for Lou Hudson.
- October 17, 1977
Traded Tony Robertson to the Atlanta Hawks for a 1979 4th round draft pick (Ray White was later selected).
Waived Cazzie Russell.
- December 13, 1977
Traded James Edwards, Earl Tatum and cash to the Indiana Pacers for Adrian Dantley and Dave Robisch.
- December 27, 1977
Traded Don Chaney, Kermit Washington and a 1978 1st round draft pick (Freeman Williams was later selected) to the Boston Celtics for Charlie Scott.
- January 30, 1978
Waived Ernie DiGregorio.
- June 7, 1978
Traded Tom Abernethy to the Buffalo Braves for a 1978 2nd round draft pick (Lew Massey was later selected).
- June 9, 1978
Drafted Carlos Terry in the 5th round (104th pick) of the 1978 NBA Draft.
Drafted Kim Stewart in the 6th round (126th pick) of the 1978 NBA Draft.
Drafted Larry Paige in the 7th round (147th pick) of the 1978 NBA Draft.
Drafted Ron Carter in the 2nd round (26th pick) of the 1978 NBA Draft.
Drafted Lew Massey in the 2nd round (38th pick) of the 1978 NBA Draft.
Drafted Michael Cooper in the 3rd round (60th pick) of the 1978 NBA Draft.
Drafted Harold Robertson in the 4th round (82nd pick) of the 1978 NBA Draft.
- June 26, 1978
Traded Charlie Scott to the Denver Nuggets for Ron Boone, a 1979 2nd round draft pick (Ollie Mack was later selected) and a 1979 2nd round draft pick (Mark Young was later selected).