| | | Wednesday, October 4th, 1972 | | Signed 1B B. Powell to a 2-year contract extension worth a total of $20,200,000. |
| Tuesday, May 16th, 1972 | | Demoted CF J. Hall to Triple A Denver. | | Placed CF C. Flood on the active roster. | | Activated CF C. Flood from the disabled list. | | Placed MR D. Higgins on the 15-day disabled list. | | Placed SP B. Stafford on the International League 7-day disabled list. | | Purchased the contract of SP J. Niekro from Triple A Denver. |
| Wednesday, March 1st, 1972 | | Drafted SP D. Medich in the 1972 first-year player draft (Round 1, Pick 4, 4th overall Pick). | | Traded 28-year-old first baseman M. Hegan to the Manhattan Gray Sox, getting 31-year-old minor league reliever J. Aker, 35-year-old minor league second baseman B. Johnson and 28-year-old minor league catcher J. Hiatt in return. | | Demoted C J. Azcue to Triple A Denver. | | Demoted C J. Hiatt to Triple A Denver. | | Demoted CF J. Hall to Triple A Denver. | | Demoted 1B J. Gentile to Triple A Denver. | | Demoted MR J. Aker to Triple A Denver. | | Placed MR D. Coombs on the 15-day disabled list. | | Purchased the contract of MR L. Palmer from Triple A Denver. | | Traded 39-year-old minor league first baseman D. Stuart to the Cleveland Barons, getting 26-year-old shortstop H. Torres in return. | | Placed SS H. Torres on the 15-day disabled list. | | Drafted 2B D. Rosello in the 1972 first-year player draft (Round 5, Pick 2, 50th overall Pick). | | Drafted 1B J. Lis in the 1972 first-year player draft (Round 5, Pick 12, 60th overall Pick). |
| Monday, February 14th, 1972 | | Purchased the contract of MR P. Mikkelsen from Triple A Denver. |
| Sunday, February 6th, 1972 | | Signed free agent RF M. Mantle to a 2-year contract worth a total of $21,276,000. | | Signed free agent MR D. Coombs to a 2-year contract worth a total of $2,002,000. |
| Tuesday, February 1st, 1972 | | Purchased the contract of 3B R. Cey from Triple A Denver. |
| Monday, November 1st, 1971 | | 3B B. Aspromonte received a 1-year contract through automatic renewal worth a total of $500,000. | | MR G. Jackson received a 1-year contract through automatic renewal worth a total of $1,500,000. | | SP D. Drago received a 1-year contract through automatic renewal worth a total of $300,000. | | MR P. Mikkelsen received a 1-year contract through automatic renewal worth a total of $300,000. | | SP D. Roberts received a 1-year contract through automatic renewal worth a total of $300,000. | | SP N. Ryan received a 1-year contract through automatic renewal worth a total of $2,300,000. | | CL D. LaRoche received a 1-year contract through automatic renewal worth a total of $1,000,000. | | 1B M. Hegan received a 1-year contract through automatic renewal worth a total of $1,500,000. | | LF J. Cardenal received a 1-year contract through automatic renewal worth a total of $330,000. | | 3B G. Nettles received a 1-year contract through automatic renewal worth a total of $2,000,000. | | RF R. Smith received a 1-year contract through automatic renewal worth a total of $2,000,000. | | MR J. Niekro received a 1-year contract through automatic renewal worth a total of $1,000,000. | | CF G. Foster received a 1-year contract through automatic renewal worth a total of $2,100,000. | | SP L. Walker received a 1-year contract through automatic renewal worth a total of $1,000,000. | | LF R. White received a 1-year contract through automatic renewal worth a total of $1,500,000. | | C G. Mitterwald received a 1-year contract through automatic renewal worth a total of $500,000. | | LF N. Siebern becomes a free-agent. | | Demoted SP L. Burdette to Triple A Denver. | | Purchased the contract of SP J. Matlack from Triple A Denver. | | Demoted MR P. Mikkelsen to Triple A Denver. | | Demoted MR J. Niekro to Triple A Denver. | | Demoted 3B B. Aspromonte to Triple A Denver. | | Demoted 1B D. Stuart to Triple A Denver. | | Demoted CF G. Foster to Triple A Denver. |
| Friday, October 29th, 1971 | | LF B. Powell received a 1-year contract through arbitration worth a total of $6,500,000. | | RF R. Fairly received a 1-year contract through arbitration worth a total of $2,200,000. |
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