Transactions listed are from July 1, 1968 to June 30, 1969

• Unknown Date

  Waived Jim Caldwell.

• September 30, 1968

  Waived Howard Bayne.

• October 8, 1968

  Traded a draft choice to the Dallas Chaparrals for Rich Peek.

• November 22, 1968

  Hired Gene Rhodes as Head Coach.

• December 30, 1968

  Traded Manny Leaks and Randolph Mahaffey to the New York Nets for Dan Anderson and Ollie Darden.

• February 4, 1969

  As part of a 3-team trade, the Kentucky Colonels traded Dan Anderson to the Memphis Pros; and the Minnesota Pipers traded a draft choice to the Kentucky Colonels.