On 19 February 2020, following rumours that he was bound for the NBA, Will Magnay announced that he had re-signed with the Bullets on a two-year deal.[2]
On 2 May 2020, Hodgson announced that he had decided to opt out of his contract under the Australian Basketball Players' Association agreement which was designed to protect players during the COVID-19 pandemic.[3]
After exploring his options, on 20 May 2020 Hodgson announced that he would return to the Bullets.[4]
On 17 June 2020, the Bullets released Gliddon from the last year of his contract.[5]
On 15 July 2020, the Bullets signed Anthony Drmic on a two-year plus option deal. He previously played for the Adelaide 36ers.[6]
On 16 July 2020, Tanner Krebs signed his first professional contract with the Bullets on a two-year deal.[7]
On 17 July 2020, Harry Froling, another former 36er, signed a one-year plus option deal with the Bullets.[8]
On 20 July 2020, youngster Tamuri Wigness signed his first professional contract with the Bullets on a two-year deal.[9]
On 13 October 2020, development player Callum Dalton re-signed with the club for his fourth season with the Bullets.[10]
On 28 November 2020, Magnay was released by the club after he was signed by the New Orleans Pelicans on a two-way deal.[11]
On 4 December 2020, the Bullets signed their second import Vic Law.[12]
On 17 March 2021, the Bullets released Johnson and signed former Bullet Lamar Patterson as his replacement.[13] As Patterson was injured, Jamaal Robateu was signed as an injury replacement player.
On 19 April 2021, the Bullets signed B. J. Johnson to replace Law after he was ruled out of the remainder of the season due to injury.[14][15]
Roster
Note: Flags indicate national team eligibility at FIBA-sanctioned events. Players may hold other non-FIBA nationalities not displayed.
^This game is a home game for the SEM Phoenix and was originally due to be played at John Cain Arena, but COVID-19 induced border closures forced the team to relocate to Cairns.