Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1997 |  | Baldvin Hallgrímsson | DF | |||
| 01/1997 | | Ólafur Ingason | FW |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1997 | | Jóhann Hreiðarsson | MF |  | Valur Reykjavík | Valur |
| 07/1996 | | Siggi Jónsson | MF |  | FH Hafnarfjörður | FH |
Ægir
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1997 | | Baldvin Hallgrímsson | DF | |||
| 01/1997 | | Ólafur Ingason | FW |
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1997 | | Jóhann Hreiðarsson | MF | | Valur Reykjavík | Valur |
| 07/1996 | | Siggi Jónsson | MF | | FH Hafnarfjörður | FH |