The worst part of the Tyree play wasn't the failure to call "in the grasp" - I can see why in that situation they'd give the QB every chance to escape. The real problem was that there were multiple EGREGIOUS holding calls. At one point, Shaun O'Hara admitted later to literally choking Richard Seymour.
Here's the choke:
View attachment 60810
View attachment 60812
On the "in the grasp", here's the explanation from Mike Carey, who, by his own admission, only didn't make that call because he was out of position.
"David Tyree made arguably the greatest catch in NFL Super Bowl history, but according to referee Mike Carey, almost never happened.
Tyree's catch propelled the New York Giants
to their Super Bowl XLII upset over the undefeated New England Patriots and Carey was lucky enough to officiate one of the NFL's greatest upsets. Carey, now retired, recently admitted that he was out of normal position when the play was snapped. Had Carey been standing in his normal place, the play would've likely been whistled dead before Manning threw the pass.
"For some reason, I don’t know why, I ran all the way around here to get to that window," Carey said to Tony Siragusa, via Yahoo Sports
Carey explained to Siragusa that his usual position is behind the quarterback and to the front side. Having said that, the Patriots' pass rush got there so fast on the play that he couldn't get in that position.
"Had I stayed here, I think the outcome would have been different," Carey said. "I probably would have blown the whistle.""
So because Carey didn't do his job right and was out of position, he didn't make the call, even when he admitted that he would have had he been in the right position.
Oh well, c'est la vie.