A general method for the preparation of sterically encumbered, multidentate phosphinimide (PN) ligands is described. Metallation of a trigonal tris-PN platform allows for the isolation of a Co3 II cluster 1. Oxidation of 1 by O2 or C2Cl6 cleanly furnishes a homoleptic Co III compound 2. Compound 2 exhibits an exceedingly rare S = 2 ground state. The role of PNs in stabilizing high spin late transition metals is investigated by XRD, magnetic susceptibility and DFT studies. TOC: