Herein we describe in detail the bonding properties and electrochemical behavior of the first known triosmium carbonyl clusters with a coordinated redox-active ligand 4,4',5,5'-tetramethyl-2,2'-biphosphinine (tmbp), the phosphorus derivative of 2,2'-bipyridine. The clusters investigated were [Os(3)(CO)(10)(tmbp)] (1) and its derivative [Os(3)(CO)(9)(PPh(3))(tmbp)] (2). The crystal structures of both clusters are compared with those of relevant compounds; they served as the basis for density functional theory (DFT and time-dependent DFT) calculations. The experimental and theoretical data reveal an unexpected and unprecedented bridging coordination mode of tmbp, with each P atom bridging two metal atoms. The tmbp ligand is formally reduced by transfer of two electrons from the triangular cluster core that consequently lacks one of the metal-metal bonds. Both 1 and 2 therefore represent 50e(-) clusters with a coordinated 8e(-) donor, [tmbp](2-). The HOMO and LUMO of 1 and 2 possess a predominant contribution from different pi*(tmbp) orbitals, implying that the lowest energy excited state possesses a significant intraligand character. This is in agreement with the photostability of these clusters. DFT calculations also predict the experimentally observed structure of 1 to be the most stable one in a series of several plausible structural isomers. Stepwise two-electron electrochemical reduction of 1 and 2 results in dissociation of CO and PPh(3), respectively, and formation of the [Os(3)(CO)(9)(tmbp)](2-) ion. The initially produced radical anions of the parent clusters, in which the odd electron is predominantly localized on the tmbp ligand, are sufficiently stable at low temperatures and can be observed with IR spectroelectrochemistry. The electron-deficiency of the cluster core in 1 permits facile electrocatalytic substitution of a CO ligand by tertiary phosphane and phosphite donors.