The Young and the Restless Recap, June 5: Lily hands Cane the keys to Chancellor

Here is your The Young and the Restless recap for Friday, June 5, 2026 featuring Victor finally making good on his vow to Lily.

Nothing ever stays buried

Holden and Audra’s past was coming back to haunt them | Image: JPI

Audra saw that Holden was back in town, and she asked for an update on Malcolm. Things were looking up for his father, and he was already out of the hospital. They discussed how crazy things turned out for Holden following the reveal of his paternity.

Audra wanted she and Holden to be able to be happy for each other, but they had some other things to worry about. Their past was going to be dredged up due to Noah recreating The Shadow Room and bringing the ghost of their secret right to Genoa City.

The new club looked exactly like the one that housed their deepest, darkest secret. The worst moment of their lives was going to exist in town as a glaring reminder. It was only a matter of time before the truth was uncovered and the accidental death came to light.

A family miracle

Lily pointed out how much Cane had truly changed | Image: CBS

Lily ran into Cane outside of Crimson Lights, and he turned on the charm and asked her to join him at his table. After she updated him about Malcolm's prognosis, he received a group text from both of their kids, and he was nervous to open it. Lily encouraged him to read it, but he couldn't do it on his own. She assured him that he'd want to read it.

The twins thanked Cane for helping Malcolm, and for the first time in a long time, they were warming up to him. Cane wanted to dive right in, but he knew that would alienate them. He wanted to handle things slowly so he could fix things the right way. Even Lily admitted that Cane had shed his Dumas persona and had finally settled back into the man that he used to be.

Cane invited Lily for breakfast, but she couldn't stay long. She was summoned by Victor to the ranch for a mysterious meeting. Cane offered to tag along, but that wasn't an option, especially considering how much Victor loathed Cane for creating the program that allowed for the theft of Newman to begin with.

New club in town

Nick, Sharon, and Noah discussed the recreation of The Shadow Room | Image: CBS

Nick celebrated the news of Newman being returned to his family with Sharon and Noah. However, as fantastic as it was for the Newmans, they knew that this was likely taking a toll on Phyllis. She was holding onto that company like it was the only thing that mattered in the world, and now she was left with nothing.

Sharon and Noah were also ready to face Matt Clark again because now that he had his memory back, they needed confirmation that the monster was truly gone. His performance at The Shadow Room was convincing, but that could've been an act. If he was faking, he could only do it for so long.

Genoa City was buzzing with people wanting to attend the opening night for The Shadow Room. Aside from Noah wanting another club success, he wanted to do this for Sienna. He wanted a way to erase the memories of the Los Angeles version and replace them with something more joyful.

The deal of a lifetime

Victor finally made good on his promise | Image: CBS

At the ranch, Victor asked Matt if he'd had any time to reflect on the heinous atrocities he'd committed in the past. As more memories returned, Matt struggled to reconcile the person he was now with the person that he used to be. He was in a complicated position because now that he remembered everything, escaping punishment seemed highly unlikely.

Matt wanted a chance to make amends for all of the pain that he caused the Newman family. Victor claimed that he had come to a decision about Matt's fate, but he wasn't going to get into it until Nick joined them. At the very least, Matt wanted a chance to shower and get changed, and Victor was clear that he wouldn't let Matt anywhere out of his sight.

Matt wanted some semblance of freedom, so Victor took pity on him and agreed to the shower so he could get cleaned up. While he was in the shower, Nick arrived at the ranch and openly admitted to his father that he was struggling. It was hard to combat the shaky feeling of not using the drugs, and he felt a wave of guilt over letting his family down.

Nick's meeting with his father was quickly interrupted by Lily, who was there to meet Victor for an unknown reason. He revealed to Lily that Newman was returned to him and, as a result, he was ready to sign over Chancellor to her, per their previous agreement. The moment Lily left, Nick flipped on his dad because there was no way Victor and Nikki's marriage could ever recover from this.

Matt waltzed into the room finally free of that hideous blue button-down, and he was absolutely interrupting. Nick wasn't sure how to react to Matt walking around free in the room. Matt tried to apologize to Nick for getting him hooked on drugs to begin with, and he knew how cruel he'd been. Matt wanted to discuss his fate, and Victor offered to put Matt to the ultimate sincerity test.

After leaving the ranch, Lily's first stop was meeting Cane at Society. She shared the big news with him, but that's not all. She had a monumental request for her ex. Lily asked Cane to run Chancellor for her.

Sins of the mother

Daniel had no sympathy for his mother | Image: CBS

Daniel arrived for a sit-down at Society with Phyllis, and he was immediately standoffish with his mother. She was hopeful that they'd reach a more positive place, and she revealed that she handed Newman back to Victor. Daniel was glad that Phyllis had done the right thing, but the more he lamented the loss of the company, the more red flags Daniel spotted.

If Phyllis was forced into giving up the company instead of doing it because it was the right thing to do, Daniel still very much had an issue with his mother. Why did it even matter why Phyllis gave Newman back? Being backed into a corner may have been the reason, but that doesn't change all of the good she'd done, like saving Nick's life.

There was no reason why Daniel couldn't give his mother a bit of grace. She was pouring her heart out to him, and he couldn't be bothered to give an inch. She wanted a shred of forgiveness and a twinge of pride from him, but it wasn't ever going to happen. Phyllis stormed out of the restaurant in tears while Noah and Sharon looked on.

Sharon sat next to Daniel and asked if there was a chance that he could find it in his heart to forgive her. Phyllis was forced to give Newman back, so as long as she saw herself as the victim, Daniel wasn't interested in making things right. He was certain that his mother was going to continue to make the same mistakes over and over. Nothing had changed.

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