The Young and the Restless (Y&R) spoilers recap for Wednesday, July 3, reveals that Chance Chancellor

(Conner Floyd) will tell Summer Newman (Allison Lanier) about the demerger and Billy Abbott’s (Jason

Thompson) COO offer, but he’ll question Billy’s motives when it comes to putting him in that position.

Meanwhile, Lily Winters (Christel Khalil) will express concern to Billy about Jill Abbott’s (Jess Walton) lack of support and won’t think this really feels like a victory.

When Lily admits Jill’s opinion has changed things for her, she’ll hint about maybe walking away from Abbott-Chancellor.

Lily will suggest that maybe Devon Hamilton-Winters (Bryton James) was right – that Billy doesn’t actually need her to run the company.

It’ll dawn on Billy that perhaps this was Lily’s plan all along, so he’ll ask if she’s been playing him.

Lily will deny it and act like Billy’s being ridiculous, but he’ll recall some clues that seem to be adding up now.

Despite Billy’s repeated accusations, Lily will insist her decision to leave isn’t a done deal.

Lily will angrily claim she just needs some time without Billy pressuring her and will storm out of the coffeehouse as Chance arrives with Summer.

Chance will quiz Billy about what was up with Lily, so Billy will suggest she’s fine despite the disappointment written all over his face.

Afterward, Chance will talk to Summer about the potential custody drama with Kyle Abbott (Michael Mealor), so she’ll acknowledge that she really doesn’t want more turmoil.

At the Abbott mansion, Kyle will dodge Jack Abbott (Peter Bergman) and Diane Jenkins-Abbott’s (Susan Walters) questions, but he’ll still gloat and make it seem like maybe Victor Newman (Eric Braeden) sees the value he brings to the table.

Jack will warn that Kyle’s headed for disaster and will act like it’d be a terrible idea to let himself getting manipulated here.

Kyle will take umbrage and argue that his parents don’t trust him to think for himself.

After Kyle argues that he’s not some teenager Jack can boss around, he’ll point out that Diane abandoned him during the years he needed her.

Kyle will warn that Diane doesn’t get to reclaim those years now, so she’ll break down in tears over his resentment.

Once Kyle makes it clear that his business decisions are completely his own from now on, he’ll stomp upstairs.

That’ll leave Jack and Diane to discuss everything she learned from Michael Baldwin (Christian LeBlanc), so they’ll grow increasingly concerned about Victor’s revenge plot.

If Kyle isn’t getting manipulated into all this, Diane and Jack will have to consider the possibility that he’s signing up willingly.

When Kyle returns, he’ll announce that it’s best if he moves out with Harrison Abbott (Redding Munsell).

Diane will contend that there’s no need to take things that far, but Kyle will wonder what she expected to happen.

Kyle will ultimately hint about the tension getting even worse soon, so Jack will ask what that’s supposed to mean.

After Kyle says Jack and Diane will find out soon enough, Jack will decide to get some answers from “The Moustache” himself and will text Victor that he needs to see him ASAP.

At the GCAC, Audra Charles (Zuleyka Silver) will join Nate Hastings (Sean Hastings) for a flirty conversation as she celebrates moving on from Tucker McCall (Trevor St. John).

Audra will hint about Glissade’s press release happening in the morning, so Nate will acknowledge that big news is set to break at Chancellor-Winters as well.

Although Audra will want a clue on Wednesday’s Y&R episode, she’ll back down when Nate seeks updates on the name of Glissade’s secret investor.

The flirting will continue by the staircase, where Audra will resist the urge to invite Nate up for nightcap – as tempting as that may be.

Nate will smile and respect Audra’s wishes, but she’ll still give him a sizzling kiss before she heads up to her room alone.