Bimetallic palladium(II)-rhodium(I) and gold(I)-rhodium(I) complexes of the type [(4,4'-Me-2-bipy)(C6F5)Pd(mu-PPh3-n-Py-n)Rh(diene)](BF4)(2) and [(C6F5)Au(mu-PPh3-nPyn)Rh(diene)](BF4) (n = 2, 3; Py = 2-pyridyl) have been synthesized. The P donor atom of the bridging ligands (mu-PPh3-nPyn) is coordinated to the Pd or to the Au center. The resulting complexes react with [Rh(diolefin)(solv)(2)](+) (solv = acetone) in a way similar to pyrazolylborates, affording square-planar or pentacoordinated rhodium complexes with two or the three N-donor ends chelating the Rh atom. The metallacycles formed upon chelation can adopt one of two conformations in the square-planar Rh(I) complexes, either bringing the other metal close to the Rh center or bringing it to a remote position. The first conformation is preferred for the gold P-coordinated complexes and the second for the palladium complexes. The X-ray structures of [(4,4'-Me-2-bipy)](C6F5)Pd(mu-PPhPy2)Rh(COD)](BF4)(2) (COD = 1,5 cyclooctadiene) and [Au(C6F5)(mu-PPhPy2)Rh(TFB)](BF4) (TFB = 5,6,7,8-tetrafuoro-1,4-dihydro-1,4-etenonaphthalene) are reported.