Thermal isomerisation of the ferraphosphadicarbaborane [1‐Cp‐closo‐1,2,4,5‐FePC2B8H10] (1a; Cp = η5‐C5H5−) at elevated temperatures (180−350 °C) leads to the formation of three new isomeric complexes. These were characterized by multinuclear (1H, 11B, 31P, and 13C) NMR spectroscopy and mass spectrometry as [1‐Cp‐closo‐1,2,3,8‐FePC2B8H10] (1b), [1‐Cp‐closo‐1,10,2,4‐FePC2B8H10] (1c), and closo‐[1,2,4,10‐FePC2B8H10] (1d). The formation of 1b is accompanied by an unusual agglomeration of the P and C heteroatoms. Complexes 1b and 1c have also been isolated as side products from the direct reaction between nido‐[7,8,9‐PC2B8H11] (2) and [CpFe(CO)2]2 in refluxing mesitylene, and 1a and 1b from the pyrolysis of [7‐Fp‐(η1‐nido‐7,9,10‐PC2B8H10)] [3; Fp = CpFe(CO)2] at 350 °C. NMR intercomparisons of all five [1‐Cp‐closo‐FePC2B8H10] isomers thus far isolated have been made. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2003)