Condensation reactions of 1,1'‐diacetylferrocenes with hydrazine afford a series of novel ferrocenophanes with two incorporated ferrocene units. NMR spectroscopy is used to establish the free rotation of the –CH=N–N=C(R)– bridging chains (R = H, Me, Ph) and the rigidity of the –C(Me)=N–N=C(Me)– chain(s) in these macrocycles. The results of theoretical studies on molecular dynamics of these molecules carried out by density functional calculations are consistent with the spectroscopic observations. The stereostructures of the new compounds were confirmed by IR, 1H and 13C NMR spectroscopy, including 2D‐COSY, 2D‐HMQC and 2D‐HMBC measurements, and by mass spectrometry. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2005)