In
| Player | Team | Date | Fee |
|---|---|---|---|
| Tom Corrin | Portsmouth | May 1903 | Undisclosed |
| David Murray | Leven Victoria | 1 May 1903 | Free |
| Tom Simpson | Leicester Fosse | 5 May 1903 | £175 |
| Tommy McDermott | Celtic | 5 June 1903 | £150 |
| Elias Roberts | Chirk | February 1904 | £25 |
| Pat Hanlin | Darvel Athletic | April 1904 | Free |
| Total (initial fees only): | £350 | ||
- David Murray (Leven Victoria) – Originally on trial.
- Elias Roberts (Chirk) – Transfer completed around 27th February 1904.
- Pat Hanlin (Darvel Athletic) – Transfer completed around 11th April 1904.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Charlie Clark | Plymouth Argyle | May 1903 | Undisclosed |
| John Brearley | Tottenham Hotspur | May 1903 | Undisclosed |
| Jack Lee | Released | 1 May 1903 | |
| John Barlow | Leicester Fosse | 5 May 1903 | Free |
| Jack Bell | Preston North End | 3 June 1903 | £50 |
| Wilf Toman | Stockport County | January 1904 | Free |
| Total (initial fees only): | £50 | ||
- Wilf Toman (Stockport County) – Transfer completed around 27th January 1904.
| Income | £50 |
| Expenditure | £350 |
| Net Spend | +£300 |