[OM] black insulating foam/sponge material deterioration

[Bret Aguilar]

I just purchased a used OM-2 that's in good shape except for the black spongy 
material that acts as a gasket around the back of the camera that contacts the 
door when it's closed has deteriorated and turned into a sticky tar like mass.

Is this a probem? Can it be replaced?

Any suggestions will be appreciated. 

Thanks

Bret Aguilar