Transactions listed are from July 1, 1954 to June 30, 1955

• September 17, 1954

  Traded Alfred McGuire and Connie Simmons to the Baltimore Bullets for Ray Felix and Chuck Grigsby.

• November 28, 1954

  Drafted Paul Hoffman from the Baltimore Bullets in the dispersal draft.

  Acquired player rights to Gene Shue from the Philadelphia Warriors.

• January 10, 1955

  Signed Bob Peterson as a free agent.

• January 12, 1955

  Sold player rights to Paul Hoffman to the Philadelphia Warriors.

• April 13, 1955

  Drafted Kenny Sears in the 1st round (5th pick) of the 1955 NBA Draft.

  Drafted Jerry Mullen in the 2nd round (13th pick) of the 1955 NBA Draft.

  Drafted Guy Sparrow in the 3rd round (21st pick) of the 1955 NBA Draft.

  Drafted Ed Cole in the 4th round (29th pick) of the 1955 NBA Draft.

  Drafted Denver Brackeen in the 5th round (37th pick) of the 1955 NBA Draft.

  Drafted Howard Sessums in the 6th round (45th pick) of the 1955 NBA Draft.

  Drafted Jim Fay in the 7th round (53rd pick) of the 1955 NBA Draft.

  Drafted Jack Beck in the 8th round (61st pick) of the 1955 NBA Draft.

  Drafted Don Payne in the 9th round (69th pick) of the 1955 NBA Draft.

  Drafted Wally McCarvill in the 10th round (77th pick) of the 1955 NBA Draft.

  Drafted Charles Stickels in the 11th round (84th pick) of the 1955 NBA Draft.

  Drafted Mickey Harrington in the 12th round (91st pick) of the 1955 NBA Draft.