(This article includes spoilers from the day-ahead Y&R episode that airs in Canada on June 3rd and in the USA on June 4th.)
Just when it looked like Victor Newman was ready to start celebrating getting Newman Enterprises back on The Young and the Restless, he made two decisions during Friday’s episode that could create a whole new set of problems.
After months of uncertainty surrounding Chancellor, Victor finally handed the company back to Lily Winters and kept the promise he made to her. At the same time, he stunned Nick by revealing that he has no plans to cast Matt Clark aside. Instead, Victor intends to keep him close and find out whether his claims of remorse are genuine.
On paper, both decisions make sense. Lily earned Victor’s respect throughout the Newman Enterprises battle, and Matt has repeatedly insisted that he wants a chance to make amends. The question is whether either choice will be as straightforward as Victor believes.
Lily Finally Gets Chancellor Back

Lily walked into the Newman Ranch expecting another conversation with Victor. Instead, she walked out with Chancellor.

Now that Newman Enterprises is back under Newman control, Victor informed Lily that he could finally follow through on the agreement they made and return the company to her. There was no negotiation and no last-minute twist. Victor had already prepared the paperwork and made up his mind.
For Lily, this wasn’t just another business transaction. Chancellor has been tied to some of the biggest battles in Genoa City, and getting it back represents an opportunity to rebuild on her own terms.

What made the moment even more interesting was Nick’s reaction. The second Lily left, he questioned whether Victor was making the right decision. Nick immediately thought about Nikki and the role Chancellor has played in her life, warning that permanently giving it away could create even more tension between his parents.
Victor wasn’t interested in debating it. As far as he was concerned, Lily had earned it.
Matt’s Future Takes an Unexpected Turn
While Lily was getting good news, Matt was preparing for what he assumed would be a judgment day of sorts.

The former villain spent much of the episode talking about the memories that have come flooding back. He admitted that he remembers many of the terrible things he has done, but still struggles to understand why he did them. Victor listened, but he wasn’t exactly buying everything he heard.

In one of the episode’s more memorable moments, Victor suggested that Matt is either one of the greatest liars he has ever encountered or a man dealing with a very serious mental condition.
Even so, Victor didn’t treat him like someone beyond redemption.
He allowed Matt a shower, clean clothes and a meal before making his decision. They were small gestures, but they showed that Victor was at least willing to hear him out.
Victor Wants Proof, Not Promises

Once Nick arrived, Victor finally revealed what comes next.

Rather than throwing Matt out or turning him over to face consequences elsewhere, Victor announced that he plans to keep him close and test whether his remorse is real. If Matt is sincere, Victor believes he could actually be useful. If he isn’t, Victor made it very clear there will be consequences.
After apologizing to Nick again and expressing disgust over his past actions, he practically welcomed the challenge. Whether that’s because he has genuinely changed or because he’s telling Victor exactly what he wants to hear remains the big question.
Next Week’s Preview Raises the Stakes
The preview for next week suggests Victor won’t be waiting long to put Matt’s redemption story to the test.

Image Credit: CBS
According to the preview, Victor plans to use Matt in an effort to capture Cane. That means Matt’s first opportunity to prove himself may involve helping Victor take action against someone who has become increasingly important to Lily’s story.
If that’s the case, Victor isn’t looking for words. He’s looking for results.

Meanwhile, Lily’s life is becoming more complicated in its own way. After getting Chancellor back, she immediately turned to Cane and asked whether he would consider running the company for her. Coming on the heels of Cane helping save Malcolm’s life and reconnecting with his children, it was another sign that Lily may be trusting him again.
Between Victor’s plans for Matt, Lily’s future at Chancellor and Cane’s growing role in her life, today’s episode felt less like an ending and more like the beginning of several new stories.
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