The syntheses and some typical reactions of diastereomeric rhenium complexes [CpRe(NO)(CO){P(Ph)(R)(R′)}]BF4 (R = Me, Ph; R′ = 2‐C6H4OMe, CH2C4H3S, CH2C4H7O) (3a−e) are described. Reduction of the carbonyl ligand with NaBH4 in THF gave the corresponding methyl complexes [CpRe(NO){P(Ph)(R)(R′)}(CH3)] (4a−e). Acid treatment of the methyl complexes leads to liberation of methane and coordination of the additional donor site of the potentially bidentate phosphane ligand. Of the chelate complexes 5a−e, those with R′ = 2‐C6H4OMe (5a, d) decomposed in solution at room temperature. In donor solvents, the chelate ring opens giving the stable solvated complexes [CpRe(NO){P(Ph)(R)(R′)}](solvent)]BF4 (solvent = CH3CN, THF) (6b−e, 7d). The new compounds are thus suitable starting materials for the syntheses of diastereomeric rhenium complexes [CpRe(NO){P(Ph)(R)(R′)}(L)]BF4. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2004)