Replace rear rubber piece?

[larrybr45]

In doing my pump oil change, I noticed that a rubber piece surrounding the forward/reverse bar has a small gouge in it. Just wondering if I need to replace, is this a big deal if not fixed? How hard is it to fix?

I have attached a photo.

thanks

 

[El Toro 33809]

It doesn't look like it would have any impact on the functionality of the boat. If it is a seal the only issue could be some water intrusion.