| Tuesday, January 2nd , 1962 |
| Drafted 2B Roy Gass in the 1961 expansion draft from the St. Louis Pioneers (Round 26, Pick 1, 101st overall pick). |
| Drafted C Thad Jones in the 1961 expansion draft from the Cleveland Foresters (Round 27, Pick 4, 108th overall pick). |
| Drafted LF Joe Music in the 1961 expansion draft from the Kansas City Kings (Round 29, Pick 4, 116th overall pick). |
| Drafted LF Joe Cahill in the 1961 expansion draft from the Cincinnati Cannons (Round 30, Pick 1, 117th overall pick). |
| Drafted LF Stew Manning in the 1961 expansion draft from the Boston Minutemen (Round 31, Pick 4, 124th overall pick). |
| Drafted 2B Eddie Wright in the 1961 expansion draft from the St. Louis Pioneers (Round 32, Pick 1, 125th overall pick). |
| Drafted RP Dan Charlton in the 1961 expansion draft from the New York Gothams (Round 33, Pick 4, 132nd overall pick). |
| Drafted C Al Ormsby in the 1961 expansion draft from the San Francisco Sailors (Round 34, Pick 1, 133rd overall pick). |
| Drafted SP Don Hillshire in the 1961 expansion draft from the Pittsburgh Miners (Round 35, Pick 4, 140th overall pick). |
| Drafted C Jim Richard in the 1961 expansion draft from the Chicago Cougars (Round 36, Pick 1, 141st overall pick). |
| Drafted C Ernie Frost in the 1961 expansion draft from the Kansas City Kings (Round 37, Pick 4, 148th overall pick). |
| Drafted SP Al Siegfried in the 1961 expansion draft from the Detroit Dynamos (Round 38, Pick 1, 149th overall pick). |
| Drafted RP Jack Jordan in the 1961 expansion draft from the Toronto Wolves (Round 39, Pick 4, 156th overall pick). |
| Drafted 1B Del Murray in the 1961 expansion draft from the Washington Eagles (Round 40, Pick 1, 157th overall pick). |
| Drafted 1B John Williams in the 1961 expansion draft from the Boston Minutemen (Round 42, Pick 1, 165th overall pick). |
| Drafted LF Hippo Wallace in the 1961 expansion draft from the Montreal Saints (Round 43, Pick 4, 172nd overall pick). |
| Drafted RF Hap Moody in the 1961 expansion draft from the St. Louis Pioneers (Round 44, Pick 1, 173rd overall pick). |
| Drafted 1B Ford Duncan in the 1961 expansion draft from the Toronto Wolves (Round 45, Pick 4, 180th overall pick). |
| Drafted 1B Walter Medlin in the 1961 expansion draft from the St. Louis Pioneers (Round 46, Pick 1, 181st overall pick). |
| Drafted 3B Nick Schott in the 1961 expansion draft from the Montreal Saints (Round 47, Pick 4, 188th overall pick). |
| Drafted SP Frank Nichols in the 1961 expansion draft from the Boston Minutemen (Round 48, Pick 1, 189th overall pick). |
| Drafted 1B Joe Parker in the 1961 expansion draft from the Toronto Wolves (Round 49, Pick 4, 196th overall pick). |
| Drafted 3B Hap Beach in the 1961 expansion draft from the Montreal Saints (Round 50, Pick 1, 197th overall pick). |
| Received 1B George Rico from Major League Minneapolis. |
| Received 3B Hap Beach from Major League Minneapolis. |
| Received LF Joe Music from Major League Minneapolis. |
| Received LF Ralph Capriotti from Major League Minneapolis. |
| Received 2B Eddie Wright from Major League Minneapolis. |
| Demoted RP Andy Stewart to Class C St. Cloud. |
| Demoted SS Doug Parish to Class C St. Cloud. |
| Released RF Bruce Young. |
| Released CF Stan Lilly. |
| Released LF Mark Frank. |
| Released 3B George Cook. |
| Released SS Lynn Williamson. |
| Released SS John Miller. |
| Released C Tom Sullivan. |
| Released LF Hal Stone. |
| Demoted RP Frank Hart to Class C St. Cloud. |
| Demoted SP Gordon Fitzner to Class C St. Cloud. |
| Received SP Gordon Fitzner from Class C St. Cloud. |
| Received SP Frank Hart from Class C St. Cloud. |
| Demoted SP Frank Hart to Class C St. Cloud. |
| Demoted SP Gordon Fitzner to Class C St. Cloud. |
