| Season transfer activity | |||||
| Date | Player | Position | From/To | Transfer fee | |
| Out: | August 27 | Marcus Allbäck | Striker | Hansa Rostock (Germany) | Undisclosed |
| Total: | £0 | ||||
| Summer total: | £0.425 million | ||||
| Summer transfer activity |
|||||
| Date | Player | Position | From/To | Transfer fee | |
| In: | August 6 | Matthieu Berson | Midfielder | Nantes | £1.7 million |
| August 2 | Vaclav Drobny | Defender | Strasbourg | Loan deal | |
| July 12 | Carlton Cole | Striker | Chelsea | Loan deal | |
| Total: | £0 | ||||
| Out: | July 9 | Peter Crouch | Striker | Southampton | £2 million |
| July 9 | Peter Edwards | Defender | Wolverhampton | £125,000 | |
| Total: | £2.125 million | ||||
| Summer total: | £0.425 million | ||||
| Total 2003/2004 Season Transfer Balance: -£0.425 million | |||||