The bis-phosphonio-benzo[c]phospholide tetraphenylborate 4[BPh 4 ] reacts with CpCo(C 2 H 4 ) 2 to form a chelate complex [Co(g 5 ±Cp)(j 2 P,g 2 (P=C)±4)][BPh 4 ] (6[BPh 4 ]) which was characterized by means of spectroscopic techniques and a single crystal X-ray diffraction study. The observed g 2 (p)-coordination of the benzophospholide moiety in the cation 6 is highly unusual for aromatic phosphorus heterocycles. The structural data suggest a pronounced coordination-induced localization of p-electrons in the condensed ring system.