Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 04/1997 |  | Akwá | FW |  | SL Benfica | Benfica |
| 01/1997 |  | Émerson Thome | DF | | SL Benfica | Benfica |
| 01/1997 |  | Hugo Costa | DF |  | Stoke City | Stoke City |
| 01/1997 | | Nélson Veríssimo | DF | | SL Benfica | Benfica |
| 07/1996 |  | Veiga | GK | | SL Benfica | Benfica |
| 07/1996 | | Bruno Basto | DF | |||
| 07/1996 | | Sousa | DF | |||
| 07/1996 | | Deco | MF | |||
| 07/1996 | | Diogo | MF |  | Académica de Coimbra | Académica |
| 07/1996 | | Maniche | MF | | SL Benfica | Benfica |
| 07/1996 | | Ramires | MF |  | Vitória Guimarães | Vitória SC |
| 07/1996 | | Luís Nunes | FW |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1997 | | Nélson Morais | DF | | SL Benfica | Benfica |
| 07/1996 | | Hélder Quental | MF |  | GD Estoril | Estoril |
| 07/1996 | | Akwá | FW | | SL Benfica | Benfica |