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

• November 28, 1954

  Drafted Don Henriksen from the Baltimore Bullets in the dispersal draft.

  Drafted Herm Hedderick from the Baltimore Bullets in the dispersal draft.

• December 10, 1954

  Sold player rights to Alex Hannum to the Milwaukee Hawks.

• April 13, 1955

  Drafted Maurice Stokes in the 1st round (2nd pick) of the 1955 NBA Draft.

  Drafted Jack Twyman in the 2nd round (10th pick) of the 1955 NBA Draft.

  Drafted Ed Fleming in the 3rd round (18th pick) of the 1955 NBA Draft.

  Drafted Bob McKeen in the 4th round (26th pick) of the 1955 NBA Draft.

  Drafted Bill Evans in the 5th round (34th pick) of the 1955 NBA Draft.

  Drafted Bob Armstrong in the 6th round (42nd pick) of the 1955 NBA Draft.

  Drafted Jim McConnell in the 7th round (50th pick) of the 1955 NBA Draft.

  Drafted Tony Vlastelica in the 8th round (58th pick) of the 1955 NBA Draft.

  Drafted Jerry Jung in the 9th round (66th pick) of the 1955 NBA Draft.

  Drafted Harry Jorgensen in the 10th round (74th pick) of the 1955 NBA Draft.

  Drafted Art Quimby in the 11th round (82nd pick) of the 1955 NBA Draft.

  Drafted John Prudhoe in the 12th round (89th pick) of the 1955 NBA Draft.

• April 28, 1955

  Hired Bobby Wanzer as Head Coach.

  Les Harrison resigns as Head Coach.

• May 12, 1955

  Acquired player rights to Zeke Zawoluk from the Philadelphia Warriors.