Transactions listed are from July 1, 1980 to June 30, 1981

• July 21, 1980

  Waived Charles Jones.

• August 15, 1980

  Traded T.R. Dunn and a 1983 1st round draft pick (Howard Carter was later selected) to the Denver Nuggets for a 1983 1st round draft pick (Clyde Drexler was later selected) and a 1984 2nd round draft pick (Steve Colter was later selected).

• September 24, 1980

  Signed Roy Hamilton as a free agent.

• October 8, 1980

  Traded Jim Brewer to the Los Angeles Lakers for a 1984 2nd round draft pick (Jerome Kersey was later selected). Portland had the option to swap 1st round draft picks with Los Angeles in 1984 but opted for a 2nd round draft pick instead.

• October 13, 1980

  Waived Roy Hamilton.

• December 19, 1980

  Traded Ron Brewer to the San Antonio Spurs for Mike Gale and a 1982 1st round draft pick (Ricky Pierce was later selected).

• February 2, 1981

  Signed Geoff Crompton as a free agent.

• June 5, 1981

  Traded Tom Owens to the Indiana Pacers for a 1984 1st round draft pick (Sam Bowie was later selected).

• June 8, 1981

  Traded Mike Gale to the Golden State Warriors for a 1982 2nd round draft pick (Audie Norris was later selected) and a 1985 2nd round draft pick (Mike Smrek was later selected).

• June 9, 1981

  Drafted Jeff Lamp in the 1st round (15th pick) of the 1981 NBA Draft.

  Drafted Darnell Valentine in the 1st round (16th pick) of the 1981 NBA Draft.

  Drafted Brian Jackson in the 2nd round (26th pick) of the 1981 NBA Draft.

  Drafted Derek Holcomb in the 3rd round (50th pick) of the 1981 NBA Draft.

  Drafted Pétur Guðmundsson in the 3rd round (61st pick) of the 1981 NBA Draft.

  Drafted Pete Verhoeven in the 4th round (85th pick) of the 1981 NBA Draft.

  Drafted Herb Andrew in the 5th round (107th pick) of the 1981 NBA Draft.

  Drafted Roshern Amie in the 6th round (131st pick) of the 1981 NBA Draft.

  Drafted Julius Wayne in the 7th round (153rd pick) of the 1981 NBA Draft.

  Drafted John Smith in the 8th round (176th pick) of the 1981 NBA Draft.

  Drafted Sid Williams in the 9th round (196th pick) of the 1981 NBA Draft.

  Drafted Steve Cochran in the 10th round (217th pick) of the 1981 NBA Draft.