[1] The solid is air-stable but its solutions degrade in air.

The compound is prepared by heating hydrated iridium trichloride and cyclooctadiene in alcohol solvent.

[2] In terms of its molecular structure, the iridium centers are square planar as is typical for a d8 complex.

The molecule crystallizes in yellow-orange and red-orange polymorphs; the latter one is more common.

[6] The cyclooctadiene ligand is prone to isomerize in cationic complexes of the type [(C8H12)IrL2]+.