The olefinic unit of the complexes Rh(acac)(cyclooctadiene)(PR 3 ) (PR 3 ) PCy 3 (1), PiPr 3 (2)) is displaced by 1,1-diphenyl-2-propyn-1-ol, to afford Rh(acac){η 2 -HCtCC(OH)Ph 2 }(PR 3 ) (PR 3 ) PCy 3 (3), PiPr 3 (4)). At 60 °C, in toluene as solvent, and in the presence of 1 equiv of phosphine, complexes 3 and 4 evolve into Rh(acac)H{CtCC(OH)Ph 2 }(PR 3 ) 2 (PR 3 ) PCy 3 (5), PiPr 3 ( 6)). At -78 °C, the treatment of complex 5 with HBF 4 ‚OEt 2 leads to the allenylphosphonium compound [Rh(acac){η 2 -CH(PCy 3 )dCdCPh 2 }(PCy 3 )]BF 4 (7). The X-ray crystal structure analysis of 7 reveals that the coordination geometry around the rhodium center is almost square-planar with the CH(PCy 3 )dC bond disposed perpendicular to the coordination plane of the rhodium center. The allenylphosphonium ligand of 7 is easily displaced by carbon monoxide, to give Rh(acac)(CO)(PCy 3 ) ( 8) and [Ph 2 CdCdCHPCy 3 ]BF 4 (9). At -78 °C, the protonation of complex 6 leads to the five-coordinate rhodium(III)allenyl derivative [Rh(acac){CHdCdCPh 2 }(PiPr 3 ) 2 ]BF 4 (10), which evolves in solution into [Rh(acac){η 2 -CH(PiPr 3 )dCdCPh 2 }(PiPr 3 )]BF 4 (11). For this isomerization first-order constants k obs were obtained in CD 2 Cl 2 , which give activation parameters of ∆H q) 23 ( 2 kcal mol -1 and ∆S q) 2 ( 2 cal K -1 mol -1 . Similarly to 7, the reaction of complex 11 with carbon monoxide affords Rh(acac)(CO)(PiPr 3 ) ( 12) and [Ph 2 CdCdCHPiPr 3 ]BF 4 (13).