An olefin polymerization catalyst may be prepared using a process including contacting a metal compound of the formula M(OR.sub.1).sub.2 with a diketone to form a catalyst precursor having the general formula: ##STR00001## wherein M is a Group IIA metal; O is oxygen; n=1 or 2; R.sub.1, R.sub.2, R.sub.3, and R.sub.4 are the same or different; and are a hydrogen or a substituted or unsubstituted alkyl or aryl moiety having from about 1 to about 20 carbons atoms.