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"We want what's best for the Big Ten and for Michigan.
We are not going to sacrifice competitive advantage that we built for more than a century," Grasso added.
Prior to his departure, May had endorsed Boynton's capabilities to lead a major program.
"Well, I have no idea if he's going to get another opportunity or when or where. He should.
He's an elite basketball coach," May said.
May emphasized that Boynton played an indispensable role in managing daily operations of the championship team.
"He did a really good job at Oklahoma State, especially considering the circumstances. But he's just as good as I am.
He's just as prepared. He's been invaluable for me," May said.
"He covers my blind spots before they're blind.
There's not a day that goes by that he doesn't call me and want to take something off of my plate that I haven't thought of," May added.
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The interim appointment has received public backing from core roster members, including starting guard Trey McKenney and freshman Lincoln Cosby, who affirmed their commitment to remain with the Wolverines under Boynton's leadership.