Here we report a study on the reactivity of the fluorescent air-stable primary phosphine 8-((4-phosphino)phenyl)-4,4-dimethyl-1,3,5,7-tetramethyl-2,6-diethyl-4-bora-3a,4a-diaza-s-indacene 4 with [Mo (CO) 6 ], [W(CO) 6 ], [Mo(CO) 4 (piperidine)] and [W(CO) 4 (piperidine)] which yields the mono-phosphine [Mo(CO) 5 (4)] 5, [W(CO) 5 (4)] 6 and di-phosphine cis-[Mo(CO) 4 (4) 2 ] (7) and cis-[W(CO) 4 (4) 2 ] (9) complexes as the predominant products. In addition to the characterisation of these complexes by multinuclear NMR and IR spectroscopy, and mass spectrometry, the solid state structures of 6 and cis-7 have also been determined by single crystal X-ray diffraction. The photophysical properties of the complexes show that the incorporation of the phosphorus ligand has a limited effect on the absorption and emission profile of the Bodipy core and that they retain similar quantum yields to their parent Bodipy dyes. Small quantities of the by-products trans-[Mo(CO) 4 (4) 2 ] (7), cis-[Mo(CO) 4 (piperidine)(4)] (8) and cis-[W(CO) 4 (piperidine)(4)] (10) were also isolated and characterized.