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

• December 3, 1955

  Acquired player rights to Bob Schafer from the Philadelphia Warriors.

• January ?, 1956

  Released Chuck Cooper.

• April 30, 1956

  Drafted Bill Russell in the 1st round (2nd pick) of the 1956 NBA Draft.

  Drafted Willie Naulls in the 2nd round (10th pick) of the 1956 NBA Draft.

  Drafted Darrell Floyd in the 3rd round (18th pick) of the 1956 NBA Draft.

  Drafted Robin Freeman in the 4th round (26th pick) of the 1956 NBA Draft.

  Drafted Norm Stewart in the 5th round (34th pick) of the 1956 NBA Draft.

  Drafted Dave Plunkett in the 6th round (42nd pick) of the 1956 NBA Draft.

  Drafted Julius McCoy in the 7th round (50th pick) of the 1956 NBA Draft.

  Drafted Morris Taft in the 8th round (58th pick) of the 1956 NBA Draft.

  Drafted Jim Reed in the 9th round (65th pick) of the 1956 NBA Draft.

  Drafted Herschel Pedersen in the 10th round (72nd pick) of the 1956 NBA Draft.

  Drafted Wally Choice in the 11th round (78th pick) of the 1956 NBA Draft.

  Drafted Ed Huse in the 12th round (82nd pick) of the 1956 NBA Draft.

  Drafted Arthur Helms in the 13th round (86th pick) of the 1956 NBA Draft.

  Drafted Junior Morgan in the 14th round (90th pick) of the 1956 NBA Draft.

  Traded Bill Russell to the Boston Celtics for Cliff Hagan and Ed Macauley.