The unsaturated nickel-molybdenum complex [(η-C 5 Me 5 )NidMo(CO) 3 (η-C 5 H 5 )] (NidMo), 1, reacts with allyldiphenylphosphine (ADPP) to give the complex [(η-C 5 Me 5 )Ni(µ-CO) 2 Mo(CO)(κ 1 (P)-PPh 2 CH 2 CHdCH 2 )(η-C 5 H 5 )] (Ni-Mo), 2, which is in equilibrium with the starting materials at ambient temperature. Nevertheless, orange crystals of complex 2 could be isolated from the solution, and a single-crystal X-ray diffraction study confirmed that the phosphine ligand is bound to the molybdenum atom via the phosphorus atom alone. Prolonged heating of complex 1 with excess ADPP led to activation of the P-C allyl bond and to the isolation of the unsaturated trinuclear NiMo 2 µ-diphenylphosphido cluster [(η-C 5 Me 5 )NiMo 2 (η-C 5 H 5 ) 2 (µ 3 -CO)(µ-PPh 2 )(CO) 2 ], 3. The structure of this 46-electron cluster was established spectroscopically and by a single-crystal X-ray diffraction study. It is electronically unsaturated and contains a formal ModMo double bond that is spanned by a µ-PPh 2 ligand; the molecule exhibits effective mirror plane symmetry in solution, and in the solid state, an approximate mirror plane is also observed.