Sheila Bill B&B
Credit: Howard Wise/JPI

An offhand remark from the past may explain how the madwoman got her man.

The Bold & Beautiful fan base has been working overtime to find an explanation for Bill and Sheila’s romantic relationship and many theories have been floated, but recent clues left us feeling as though we were finally onto something…

It goes without saying that Dollar Bill falling in love with psychopath Sheila makes no “cents.” Viewer reaction to the pairing, unsurprisingly, has not been positive, but who doesn’t love a good mystery? We have to know why Bill is doing this!

Fans have put forth all sorts of speculation on the matter, but most can be ruled out. If Sheila was blackmailing Bill, he would be anything but kind to her when they were alone (let alone profess his love or have sex with her!), and if Sheila was drugging him via the sword necklace, she probably wouldn’t have cut herself with it. Fans have posited that she’s controlling him with hypnosis by rapidly blinking her eyes. We’ll admit this one can’t be totally discounted, but it’s puzzling that it would have continued to work when she was behind bars. There’s even a theory that Sheila’s pulled off a body switch and her lover is not really Bill, but then why would he have such an emotional response to his visitors?

Bill’s plan to keep Sheila free and under his roof hinged on him blackmailing Steffy and Finn by threatening to have Taylor charged with his shooting, thus bringing that bit of history into the present. This made sense as the only leverage he had to pull off something so shocking, and we didn’t think much else of it… until very recently.

Last Friday’s cliffhanger had Liam and Hope discussing the shooting, which put a whole new possible angle on our radar. What if Liam actually shot Bill and Sheila knows?

Some have poo-pooed the theory and asked, “How would Sheila know?”

Well, we’ll tell ya.

As Bold & Beautiful viewers will recall, at the time Bill was shot, Steffy’s parents were both in an uproar about him having “taken advantage” of their daughter at a vulnerable time (despite Steffy making it clear that wasn’t the case). Ridge tangled with Bill more than once over the situation, but one time in particular stands out now — Bill and Ridge’s altercation at Il Giardino.

They got into it physically in front of some horrified patrons and staff, including none other than Sheila, who was working there as a waitress at the time. After the dust-up, Ridge suggested Sheila kill Bill “before he did it himself.” This conversation took place at the bar.

Cut to: directly before Bill’s shooting, and Sally and the Spectra gang were lunching at the restaurant. While there, they hoped to catch a glimpse of the notorious Sheila Carter, but a staff member informed them that Sheila had gone to “take care of something.”

Yes, folks, Sheila likely went to do Ridge’s bidding, which would place her at the scene of Bill’s shooting. If Liam was actually the shooter, and not Taylor, Sheila may have witnessed this and may even have evidence such as a video.

But circling back to our previous theories, she’s clearly not blackmailing Bill or he’d be hostile toward her when they are alone. If she revealed to him on the beach that she was at his house that night, and he knows that Liam was actually the shooter, he would have immediately gone into protective mode. One only has to think back to Vinny’s death to understand the lengths Bill will go to in order to shield his son.

This means Bill could be playing Sheila and pretending to be in love with her to keep the situation contained. That would explain him telling Steffy he doesn’t want to hurt her, his emotional responses to Katie and Brooke, and him saying that he “needs” to be with Sheila. Perhaps he doesn’t want to be doing this; he feels he has to… and he has to give an Oscar-worthy performance and make Sheila believe it to boot.

After all, Bill would know as well as we do that if Liam gets a whiff of the truth, he’ll go into hysterics and agonize himself right into a confession and a jail cell. 

Do you think we’re onto something? What do you think is going on with Bill?! Let us know in the comment section below.

Look back over Bill’s life and loves in the gallery below.