The Young and the Restless (Y&R) spoilers for Thursday, October 30, reveal that Michael Baldwin (Christian LeBlanc) will get a risky opportunity while Billy Abbott (Jason Thompson) has a proposal for Phyllis Summers (Michelle Stafford) to consider.

At Jack Abbott’s (Peter Bergman) urging, Billy will meet up with Phyllis to extend a proposition – one that involves giving Phyllis whatever she wants to join Team Abbott.

Of course, Phyllis wants control of Jabot, so she’ll know there’s no way she’s going to get that unless she lets Victor Newman (Eric Braeden) play dirty with the AI program first.

Even if Phyllis was promised the CEO seat, she couldn’t trust the Abbotts to keep their word or that she’d stay on the throne.

Phyllis still holds a grudge over the last time she was forced out, so she presumably won’t be interested in putting herself in a position where that could happen again.

That said, Phyllis and Billy will at least have an exchange of information on Thursday’s Y&R episode.

Although Phyllis might claim Victor’s going after Arabesque and not Jabot, Billy surely won’t believe that for a second.

There’s no universe in which Victor would pass up a chance to target Jack, so Billy may feel confident Phyllis is involved in the theft and trying to throw him off track.

As for Jack, he’ll get ready for the rocky road ahead.

Jack will plan to do whatever it takes to protect his family’s company and keep Victor from wreaking havoc, but it’s out of his hands at this point.

Cane Ashby’s (Billy Flynn) program is a serious threat and could make major trouble at Jabot the moment Victor unleashes it.

Jack will do everything he can to be prepared, but some corporate chaos is still on the way.

Meanwhile, Victor will summon Michael for a meeting and make an offer he hopes will be too good to refuse.

It turns out Victor will be willing to give Michael another chance, so their friendship could be repaired if Michael plays his cards right.

However, Victor is the kind of person who requires total loyalty.

Between that fact and the plot that’s brewing against the Abbotts, Michael is bound to have some serious reservations about all this.

Plus, Michael will know that by getting in too deep with Victor, he could infuriate Lauren Fenmore Baldwin (Tracey E. Bregman) once more.

Since Michael has already been on thin ice with Lauren, he may worry about pushing her away for good this time.

The Young and the Restless spoilers say Michael will get updates on the latest news about Phyllis’ stolen program deal and weigh his options after Victor’s offer.