The Young and the Restless opens at the Newman Ranch, where Victor and Nikki celebrate her first day at Chancellor. Nikki thanks Victor for his support. Later, Victor, Nick, and Claire join the celebration. Nikki invites Claire to accompany her to the office, which Claire gladly accepts.
Meanwhile, Billy packs up his office, ignoring Jill’s calls. When he finally video chats her, Jill explains she sold Chancellor to Victor to preserve Katherine’s legacy, as the company was struggling. Billy accuses her of setting him up to fail and questions her loyalty.
At the Abbott Mansion, Jack and Diane learn that Victor stripped Glissade of its divisions, leaving it a shell company. Jack suspects Victor’s motives were aimed at hurting him but doubts Victor will have the last laugh. Diane feels defeated, but Jack remains optimistic.
Billy later confronts Nikki about the sale, accusing her and Victor of unethical business practices. Nikki listens but remains firm, acknowledging his frustration while explaining the circumstances. Billy warns Claire about the Newmans, calling Victoria the only decent one in the family.
After Billy leaves, Nikki praises him as a good father and promises Claire they’ll protect Johnny and Katie. She apologizes to Claire for the conflict surrounding Chancellor and hopes it hasn’t scared her away.
Victor and Victoria discuss the fallout, with Victoria warning her father that pushing Billy too far could backfire.
Meanwhile, Kyle and Jack reflect on recent tensions. Kyle admits he let old wounds cloud his judgment, and both Diane and Jack apologize. Kyle says he’s unsure how to move forward but wants to try.
Nick visits Sharon at Crimson Lights, where she opens up about her mental health and medication changes. Sharon insists on taking accountability for Heather’s death, despite Nick’s support and reassurance.
Nikki later admits to Claire that they mishandled things with Lily Winters, which made her an enemy. Nikki asks if she has changed her mind about working with her.
Billy visits Phyllis and shares his frustrations about losing Chancellor to Victor. Feeling betrayed by Jill, he proposes teaming up with Phyllis to take down Victor. Phyllis expresses sympathy for his situation but remains cautious.
Sharon asks Nick to take care of Faith, thanking him for always being there. Nick reassures Sharon of his loyalty, promising to support her no matter what.
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