The Young and the Restless (Y&R) recap for Wednesday, January 21, reveals that Victor Newman (Eric Braeden) will spy Nikki Newman (Melody Thomas Scott) in Jack Abbott’s (Peter Bergman) arms while Sally Spectra (Courtney Hope) demands that Cane Ashby (Billy Flynn) pull the offer he made to Billy Abbott (Jason Thompson).

On Cane’s train, Sally will blast Cane for dangling Chancellor in front of Billy and potentially undoing all the progress he’s made.

There’ll be some talk about Jill Abbott’s (Jess Walton) reaction and the fact that Victor will go after Billy if he accepts.

Cane will think Billy wants Chancellor more than anything else and will be frustrated over Sally standing in the way when Billy could have it all.

Sally will stand by her belief that this is going to end in disaster, so she’ll push Cane to pull the offer or else he’ll hurt Billy more than he could ever imagine.

At the Abbott mansion, Billy will give Jack updates on Cane’s offer, but he’ll spin it like he could be the one to protect Chancellor and preserve Katherine Chancellor’s (Jeanne Cooper) legacy.

Jack won’t buy Billy’s positive narrative and will blast him since this hurts Nikki, too.

In the end, Jack will push Billy to do the right and noble thing for once by turning Cane down.

At the Newman ranch on Wednesday’s Y&R episode, Jack will stop by and fill Nikki in on Cane offering Chancellor to Billy.

Although Jack will hate all this and wonder how he can help, Nikki will already owe him so much for saving her life.

Nikki won’t know if she can express how much Jack’s loyalty and friendship have meant to her.

As Jack and Nikki pull each other into a warm embrace, Victor will walk through the door and look irritated at the sight of their hug.

At Crimson Lights, Phyllis Summers (Michelle Stafford) will clash with Chelsea Lawson (Melissa Claire Egan) before Daniel Romalotti Jr. (Michael Graziadei) takes his turn to lash out at her.

Daniel will later vent to Tessa Porter (Cait Fairbanks) and apologize, but she’ll think that’s what friends are for.

When Daniel seeks clarification on whether they’re indeed just friends, Tessa will acknowledge that things are complicated for her right now.

That said, Tessa and Daniel will be on the same page about something happening between them.

Daniel and Tessa won’t want to ignore their spark, so they’ll lean in for a kiss.

Back on Cane’s train, Phyllis will grumble about her run-ins with Chelsea and Daniel.

After Cane admits he offered Chancellor to Billy, Phyllis will fume since that’s a big part of their empire.

Furthermore, Phyllis won’t have any faith in Billy to run Chancellor well since he’s failed at so many things.

Cane will defend his decision and make it clear that his opinion is the only one that matters here.

Once Billy heads home to Sally, she’ll express concern over Cane’s offer leading to Billy’s destruction.

Billy will argue that he’s no longer obsessed, so this is legitimately about helping Chancellor thrive.

Sally will feel like Cane has an agenda, but Billy will think the offer’s coming from a genuinely positive place.

Despite Sally’s worries, Billy will feel like Cane really wants to make things right.

The Young and the Restless spoilers say Cane could land in more trouble than he bargained for if he continues down this path, so stay tuned for any alarming news ahead.