Transactions listed are from July 1, 1986 to
June 30, 1987.
- August 19, 1986
Traded Larry Drew, Mike Woodson, a 1988 1st round draft pick (Hersey Hawkins was later selected) and a 1989 2nd round draft pick (Jay Edwards was later selected) to the Los Angeles Clippers for Junior Bridgeman, Franklin Edwards and Derek Smith.
- October 22, 1986
Waived Mike Bratz.
- October 28, 1986
Waived Junior Bridgeman.
- December 16, 1986
Waived Bruce Douglas.
Signed Othell Wilson as a free agent.
- December 23, 1986
Waived Brook Steppe.
- December 27, 1986
Signed Brook Steppe to the first of two 10-day contracts.
- February 3, 1987
Signed Jerry Eaves to a 10-day contract.
- February 9, 1987
Fired Phil Johnson as Head Coach.
Appointed Jerry Reynolds as Interim Head Coach.
- February 13, 1987
Released Jerry Eaves.
- April 27, 1987
Hired Bill Russell as Head Coach.
- April 28, 1987
Waived Othell Wilson.
- June 21, 1987
- June 22, 1987
Drafted Kenny Smith in the 1st round (6th pick) of the 1987 NBA Draft.
Drafted Sven Myer in the 3rd round (51st pick) of the 1987 NBA Draft.
Drafted Joe Arlauckas in the 4th round (74th pick) of the 1987 NBA Draft.
Drafted Vernon Carr in the 5th round (97th pick) of the 1987 NBA Draft.
Drafted Darryl Thomas in the 6th round (120th pick) of the 1987 NBA Draft.
Drafted Scott Adubato in the 7th round (143rd pick) of the 1987 NBA Draft.