A series of new bridging phosphane and phosphonite structures forming three‐ and six‐membered rings with the metal centers were synthesized and characterized. The resulting compounds of phenylbis(pyrid‐2‐ylmethyl)phosphane (1) with the silver(I) salts of trifluoroacetate (tfa–), tetrafluoroborate (BF4–), and trifluoromethanesulfonate (OTf–), and copper tetrakis(acetonitrile) hexafluorophosphate (PF6–) shows the flexibility of the ligand by displaying different coordination modes associated with the electronic and structural characteristics of the corresponding anion. Accordingly, ligand 1 in these complexes displays two different binding modes. With Agtfa and AgBF4 compounds 3 and 4 are obtained where the ligand chelates to two silver atoms that exhibit normalAg–Ag contacts in the range of 2.9 Å. When AgOTf or Cu(NCCH3)4PF6 are used, one molecule of 1 bridges the metal centers through a phosphorus atom while another is terminally bound. This induces short M–M distances of 2.6871 and 2.568 Å for 5 and 6, respectively. Similarly, the coordination behavior of the heterofunctional bis(pyrid‐2‐ylmethyl) phenylphosphonite ligand (2) is reported with Cu(NCCH3)4PF6 (7) and AgBF4 (8) to form two novel discrete molecules. In these complexes 2 coordinates through the P and N atoms, with the difference that in 7 the O atom of one of the carbinol arms is also bound to the Cu. Elemental analysis, variable‐temperature multinuclear NMR spectroscopy, single‐crystal X‐ray diffraction, and low‐temperature luminescence studies were carried out to fully characterize the compounds. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2009)