In
| Player | Team | Date | Fee |
|---|---|---|---|
| Ian Smith | Chorley | 3 May 1956 | Free |
| William Haughey | Larkhall Thistle | 9 June 1956 | £850 |
| Allan Sanders | Free agent | 7 July 1956 | Free |
| Jimmy Glazzard | Huddersfield Town | 31 August 1956 | £3,000 |
| Jackie Hood | Shettleston Juniors | 5 October 1956 | £1,350 (+£250 add-ons) |
| Jimmy Gauld | Charlton Athletic | 19 October 1956 | £10,500 |
| Frank McKay | Bathgate Thistle | 10 April 1957 | £575 |
| Total (initial fees only): | £16,275 | ||
- Allan Sanders (Free agent) – Released by Manchester City at the end of the 1955/56 season.
- Frank McKay (Bathgate Thistle) – Originally on trial.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Jack Lindsay | Bury | 16 May 1956 | £3,000 |
| John Willie Parker | Bury | 16 May 1956 | £500 |
| Harry Potts | Retired | June 1956 | |
| Bernard Molyneux | Tranmere Rovers | 8 June 1956 | £250 |
| Eddie Wainwright Gwyn Lewis Jackie Grant | Rochdale | 11 June 1956 | £2,500 |
| Ron Saunders | Tonbridge Angels | 2 July 1956 | Undisclosed |
| Harry Leyland | Tonbridge Angels | 10 July 1956 | Co-ownership |
| Les Melville | Bournemouth | 11 July 1956 | Free |
| George Rankin | Southport | 20 July 1956 | £500 |
| Harry Leyland | Blackburn Rovers | 16 August 1956 | £650 |
| Cyril Lello | Rochdale | 9 November 1956 | £750 |
| Matt Woods | Blackburn Rovers | 22 November 1956 | £5,250 |
| Jimmy Glazzard | Mansfield Town | 21 December 1956 | £800 |
| Eric Moore | Chesterfield | 11 January 1957 | £1,050 |
| Total (initial fees only): | £15,250 | ||
- Harry Potts (Retired) – Retired after becoming a coach at Wolverhampton Wanderers in June 1956 following his release from Everton.
| Income | £15,250 |
| Expenditure | £16,275 |
| Net Spend | +£1,025 |