A diphosphine chelate ligand with a wide and flexible bite angle, a unique stereochemical environment, and redox‐active and ambiphilic character is reported. Initially generated as its HgCl2 complex by reaction of 1,2‐fc(PPh2)(SnMe3) (fc=ferrocenediyl) with HgCl2 in acetone, treatment with [n‐Bu4N]CN readily liberates the free chiral bidentate ligand. An intermolecular ClHg−Cl→Hgfc2 (2.9929(13) Å) interaction that is unprecedented in ambiphilic ligand chemistry is seen in the solid structure of Hg(fcPPh2)2⋅HgCl2 where the bridging mercury atom acts as a σ‐acceptor. Furthermore, a bis‐[Rh(COD)Cl] complex is introduced, which displays relatively short Rh⋅⋅⋅Hg contacts of 3.4765(5) and 3.4013(1) Å. Wiberg indices of 0.12 are determined for these Rh⋅⋅⋅Hg interactions and an AIM analysis reveals bond paths with an electron density ρ(r) of 1.2×10−2 and 1.4×10−2 e/a03 at the bond critical points.