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So steaming worked. The ring that holds the reel in place is holding MUCH better.

My new problem is that I have an old Shakespeare Wonderod that needs a new grip as the cork that's on it have...

I'll have to give that a try this evening. Thanks for the tip.

Is that as easy as holding the handle over a pot of boiling water? How long do you recommend steaming it?

Sort of. It's an end cap and a ring over a cork center. The lower foot of the reel goes in the end cap and the ring slides down over the top foot.

Suggestions on how to fix my problem?

How hard is it? I have an old fiberglass 5wt that I'd like to use, but the reel seat is worn and the rings won't hold a reel for more than about 2-3 casting strokes. I'd like to replace the seat...