Transactions listed are from July 1, 1977 to June 30, 1978

• August 10, 1977

  Traded Tom Owens to the Portland Trail Blazers for Robin Jones.

• September 27, 1977

  Claimed C.J. Kupec on waivers from the Los Angeles Lakers.

• October 18, 1977

  Acquired player rights to John Johnson from the Boston Celtics. (Johnson returned to Houston but Houston kept the draft picks from trade on June 9, 1977.)

• October 22, 1977

  Traded John Johnson to the Seattle SuperSonics for a 1979 2nd round draft pick (Paul Mokeski was later selected) and a 1980 2nd round draft pick (Billy Williams was later selected).

• November 14, 1977

  Waived Phil Bond.

• December 5, 1977

  Waived Robin Jones.

• December 16, 1977

  Traded a 1978 2nd round draft pick (Rick Wilson was later selected) and a 1979 2nd round draft pick (Larry Wilson was later selected) to the Atlanta Hawks for Ron Behagen.

• December 22, 1977

  Traded Ron Behagen to the Indiana Pacers for Alonzo Bradley.

• February 10, 1978

  Waived Larry Moffett.

• March 2, 1978

  Signed Zaid Abdul-Aziz as a free agent.

• March 10, 1978

  Signed Mike Dunleavy as a free agent.

• May 11, 1978

  Signed Jacky Dorsey as a free agent.

• June 8, 1978

  Signed Tom Barker as a free agent.

• June 9, 1978

  Drafted Buster Matheney in the 2nd round (28th pick) of the 1978 NBA Draft.

  Drafted Billy Ray Bates in the 3rd round (47th pick) of the 1978 NBA Draft.

  Drafted Jackie Robinson in the 4th round (67th pick) of the 1978 NBA Draft.

  Drafted Joel Thompson in the 4th round (69th pick) of the 1978 NBA Draft.

  Drafted Gary Goodner in the 5th round (91st pick) of the 1978 NBA Draft.

  Drafted Eddie Joe Chavez in the 6th round (113th pick) of the 1978 NBA Draft.

  Drafted Stan Stewart in the 7th round (134th pick) of the 1978 NBA Draft.

• June 17, 1978

  Signed Rick Barry as a veteran free agent and sent John Lucas and cash to the Golden State Warriors as compensation.

• June 20, 1978

  Waived Zaid Abdul-Aziz.

• June 28, 1978

  Received a 1981 2nd round draft pick (Ed Turner was later selected) as compensation for the Boston Celtics signing Kevin Kunnert as a veteran free agent.