1989, 2.5L, 120hp, mercruiser. Is it a big project?Yup, the gimbal ring is busted. That ring can be replaced, but I will bet a box of donuts there is other damage in there that isn't so obvious. You didn't say what year / make / model the boat is
That gimbal assy looks like it needs to removed to be resealed, since someone just gobbed on sealant around it, probably to stop the leaking. OR (probably the case) your transom is rotted and gimbal housing gasket won't seal against it. .
Sorry. I did not catch you. I will pull it to water and reload the boat to the trailer to the right place.Broken before the trailer was connected to the rig
I think I know what you are implying (have changed a few in my years), but look closely and you can see a mismatch on it. Never seen an intact gimbal ring look like that. Or there is something there that shouldn't be there.That's not an issue, made that way. This allows the U bolt to tighten up around the upper steering pin
Yes. that is excess greaseCould be excess grease pushed out after years of adding to the steering shaft upper bearing cavity