Transactions listed are from July 1, 1997 to June 30, 1998

• July 7, 1997

  Released Jerome Allen.

  Released Šarūnas Marčiulionis.

  Released Kenny Smith.

• August 21, 1997

  Traded a 1999 2nd round draft pick (Kris Clack was later selected) and a 2001 2nd round draft pick (Earl Watson was later selected) to the Boston Celtics for Eric Williams.

• September 5, 1997

  Signed Dean Garrett as a free agent.

  Waived Tom Hammonds.

• September 29, 1997

  Traded Efthimis Rentzias and a 2000 2nd round draft pick (Hanno Möttölä was later selected) to the Atlanta Hawks for Priest Lauderdale.

• October 1, 1997

  As part of a 3-team trade, the Denver Nuggets traded Antonio McDyess to the Phoenix Suns; the Cleveland Cavaliers traded a 2005 1st round draft pick (Sean May was later selected) to the Phoenix Suns; the Phoenix Suns traded Tony Dumas and Wesley Person to the Cleveland Cavaliers; and the Phoenix Suns traded a 1998 1st round draft pick (Tyronn Lue was later selected), a 1999 1st round draft pick (James Posey was later selected), a 2000 2nd round draft pick (Dan McClintock was later selected), a 2001 1st round draft pick (Joseph Forte was later selected) and a 2002 2nd round draft pick (Rod Grizzard was later selected) to the Denver Nuggets.

• October 2, 1997

  Traded Dale Ellis to the Seattle SuperSonics for Greg Graham, Steve Scheffler, a 1998 2nd round draft pick (Ryan Bowen was later selected) and a 1999 2nd round draft pick (Francisco Elson was later selected).

• October 20, 1997

  Traded Greg Graham to the Cleveland Cavaliers for Sherman Douglas and a 2000 2nd round draft pick (Eddie House was later selected).

• October 27, 1997

  Waived Sherman Douglas.

• November 24, 1997

  Signed Kiwane Garris as a free agent.

• December 14, 1997

  Signed Harold Ellis as a free agent.

• December 15, 1997

  Waived Steve Scheffler.

• February 28, 1998

  Waived George Zídek.

• March 4, 1998

  Signed Cory Alexander to a contract for the rest of the season.

• March 13, 1998

  Waived Kiwane Garris.

• April 20, 1998

  Fired Bill Hanzlik as Head Coach.

• June 24, 1998

  Drafted Raef LaFrentz in the 1st round (3rd pick) of the 1998 NBA Draft.

  Drafted Tyronn Lue in the 1st round (23rd pick) of the 1998 NBA Draft.

  Drafted Tremaine Fowlkes in the 2nd round (54th pick) of the 1998 NBA Draft.

  Drafted Ryan Bowen in the 2nd round (55th pick) of the 1998 NBA Draft.

  Traded Tony Battie and Tyronn Lue to the Los Angeles Lakers for Nick Van Exel.