Transactions listed are from July 1, 2007 to June 30, 2008
- July 11, 2007
July 20, 2007
Traded a 2009 2nd round draft pick (Emir Preldžić was later selected) to the Phoenix Suns for Kurt Thomas, a 2008 1st round draft pick (Serge Ibaka was later selected) and a 2010 1st round draft pick (Quincy Pondexter was later selected). Phoenix also received a trade exception from Seattle.
- December 23, 2007
- January 29, 2008
- February 12, 2008
- February 20, 2008
February 21, 2008
As part of a 3-team trade, the Seattle SuperSonics traded Wally Szczerbiak and Delonte West to the Cleveland Cavaliers; the Chicago Bulls traded Joe Smith, Ben Wallace and a 2009 2nd round draft pick (Danny Green was later selected) to the Cleveland Cavaliers; the Chicago Bulls traded Adrian Griffin to the Seattle SuperSonics; the Cleveland Cavaliers traded Shannon Brown, Drew Gooden, Larry Hughes and Cedric Simmons to the Chicago Bulls; and the Cleveland Cavaliers traded Donyell Marshall and Ira Newble to the Seattle SuperSonics.
Waived Brent Barry.
February 29, 2008
Signed Mike Wilks to the first of two 10-day contracts.
Waived Ira Newble.
- March 14, 2008
March 24, 2008
Signed Eddie Gill to a 10-day contract.
April 3, 2008
Signed Ronald Dupree to a 10-day contract, then signed to a contract for the rest of the season.
Waived Eddie Gill.
- April 4, 2008
- April 26, 2008
June 26, 2008
Drafted Russell Westbrook in the 1st round (4th pick) of the 2008 NBA Draft.
Drafted Serge Ibaka in the 1st round (24th pick) of the 2008 NBA Draft.
Drafted Walter Sharpe in the 2nd round (32nd pick) of the 2008 NBA Draft.
Drafted Trent Plaisted in the 2nd round (46th pick) of the 2008 NBA Draft.
Drafted DeVon Hardin in the 2nd round (50th pick) of the 2008 NBA Draft.
Drafted Sasha Kaun in the 2nd round (56th pick) of the 2008 NBA Draft.