In
| Player | Team | Date | Fee |
|---|---|---|---|
| Len Woods | St Helens Town | 23 May 1907 | Free |
| Arthur Winterhalder | West Ham United | 31 May 1907 | £350 |
| Bert Chetwood | Burslem Port Vale | 22 June 1907 | Free |
| Harry Mountford | Burslem Port Vale | 22 June 1907 | £175 |
| Harry Buck | Tranmere Rovers | December 1907 | Amateur |
| John Mason | Whitchurch | 13 December 1907 | £100 (+£100 add-ons) |
| Tim Coleman | Woolwich Arsenal | 28 February 1908 | £350 |
| Tom Crews | Woolwich Arsenal | 28 February 1908 | £250 |
| James Meunier | Southport Central | 31 March 1908 | £10 |
| John McCormack | Newcastle United | 6 April 1908 | £250 |
| Bert Freeman | Woolwich Arsenal | 11 April 1908 | £350 |
| Val Harris | Shelbourne | 14 April 1908 | £350 |
| Harold Dawson | Rossendale | 22 April 1908 | £125 |
| John Borthwick | Hibernian | 23 April 1908 | £350 |
| Total (initial fees only): | £2,660 | ||
- Harry Buck (Tranmere Rovers) – Signed professional forms in May 1908.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Alex Birnie | Norwich City | May 1907 | £50 |
| Robert DePledge | Released | 1 May 1907 | |
| William Thomas | Leeds City | May 1907 | £75 |
| David Wilson | Portsmouth | 11 May 1907 | Undisclosed |
| William Dorward | Lochgelly United | 13 May 1907 | Free |
| John Donaldson | Preston North End | 24 May 1907 | £50 |
| Bob Wright | Burnley | 8 June 1907 | £40 |
| George Wilson | Distillery | 20 August 1907 | Co-ownership |
| Fred Rouse | Chelsea | 19 October 1907 | £1,000 |
| George Wilson | Newcastle United | 12 November 1907 | £1,000 |
| Total (initial fees only): | £2,215 | ||
- Robert DePledge (Released) – Eventually joined Egremont Social in September 1907.
- William Thomas (Leeds City) – Transfer completed around 3rd May 1907.
- George Wilson (Newcastle United) – Everton received £1,000 of the £1,600 transfer fee. The other £600 went to Distillery.
| Income | £2,215 |
| Expenditure | £2,660 |
| Net Spend | +£445 |