Transactions listed are from July 1, 1987 to June 30, 1988

• October 16, 1987

  Waived Claude Gregory.

• November 3, 1987

  Waived Jim Les.

• November 19, 1987

  Waived Michael Young.

• November 24, 1987

  Signed Albert King as a veteran free agent and sent a 1988 2nd round draft pick (Charles Shackleford was later selected) to the New Jersey Nets as compensation.

• December 3, 1987

  Signed Gerald Henderson as a free agent.

  Waived Steve Colter.

• December 19, 1987

  Signed Bob Thornton as a free agent.

• December 22, 1987

  Waived Vincent Askew.

• January 16, 1988

  Traded Roy Hinson, Tim McCormick and a 1989 2nd round draft pick (Stanley Brundy was later selected) to the New Jersey Nets for Ben Coleman and Mike Gminski.

• February 8, 1988

  Fired Matt Guokas as Head Coach.

  Hired Jim Lynam as Head Coach.

• March 3, 1988

  Signed Dave Henderson to the first of two 10-day contracts.

• June 23, 1988

  Lost Hansi Gnad to the Miami Heat in the NBA expansion draft.

• June 28, 1988

  Drafted Charles Smith in the 1st round (3rd pick) of the 1988 NBA Draft.

  Drafted Everette Stephens in the 2nd round (31st pick) of the 1988 NBA Draft.

  Drafted Hernán Montenegro in the 3rd round (57th pick) of the 1988 NBA Draft.

  Traded Charles Smith to the Los Angeles Clippers for Hersey Hawkins and a 1989 1st round draft pick (Kenny Payne was later selected).