The interaction of [IrCl(COD)]2 with PPh3 in isopropanol has been investigated for various P/Ir ratios, in the absence or presence of a strong base (KOtBu), at room temperature and at reflux. At room temperature, PPh3 adds to the metal center to yield [IrCl(COD)(PPh3)] and additional PPh3 only undergoes rapid degenerative ligand exchange. Subsequent addition of KOtBu affords [IrH(COD)(PPh3)2] as the main compound, even for high P/Ir ratios, although very minor amounts of products having a “HIr(PPh3)3” core are also generated. Warming to the solvent reflux temperature results in a rapid (