April 11, 2011: The Dream acquired a second-round pick in the 2012 Draft from the Washington Mystics in exchange for a first-round pick in the 2012 Draft as part of the Lindsey Harding trade.
April 11, 2011: The Dream traded a second-round pick to the Minnesota Lynx as part of the Felicia Chester/Rachel Jarry transaction.
January 31: The Dream announced Shalee Lehning's retirement.
February 8: The Dream signed Cathrine Kraayeveld.
February 9: The Dream re-signed Yelena Leuchanka.
February 10: The Dream signed Aneika Henry.
February 14: The Dream signed Laurie Koehn.
February 15: The Dream re-signed Coco Miller and Courtney Paris.
March 1: The Dream signed Ketia Swanier.
March 8: The Dream re-signed Erika de Souza and Armintie Price.
April 6: The Dream signed Romina Ciappina.
April 13: The Dream announced Alison Bales' retirement.
April 20: The Dream signed Aishah Sutherland, Chelsea Regins, and draft pick Tiffany Hayes.
April 25: The Dream signed Brittany Johnson.
May 8: The Dream waived Romina Ciappina, Brittany Johnson, Chelsea Regins, and Aishah Sutherland.
May 16: The Dream waived Coco Miller.
June 4: The Dream waived Courtney Paris and signed Jessica Moore.