Transactions listed are from July 1, 1955 to June 30, 1956

• December 3, 1955

  Sold player rights to Bob Schafer to the St. Louis Hawks.

• April 30, 1956

  Drafted Hal Lear in the 1st round (8th pick) of the 1956 NBA Draft.

  Drafted Phil Rollins in the 2nd round (16th pick) of the 1956 NBA Draft.

  Drafted Bevo Francis in the 3rd round (24th pick) of the 1956 NBA Draft.

  Drafted Phil Wheeler in the 4th round (32nd pick) of the 1956 NBA Draft.

  Drafted Joe Belmont in the 5th round (40th pick) of the 1956 NBA Draft.

  Drafted Mickey Winograd in the 6th round (48th pick) of the 1956 NBA Draft.

  Drafted John Fannon in the 7th round (56th pick) of the 1956 NBA Draft.

  Drafted Max Anderson in the 8th round (63rd pick) of the 1956 NBA Draft.

  Drafted Ronald Clark in the 9th round (70th pick) of the 1956 NBA Draft.