Jm Labs / Focal Port Foam

What is it's purpose?  I just got a used Focal center channel CC-900 and noticed the foam has deteriorated and come apart a bit...should I be concerned?  Should I just pull it the rest of the way out?  Should I take it somewhere and have it rebuilt?  I can't seem to find anything on response to this issue in the forums, so fire away!

If its foam that covers a port....get similar foam from Home Depot, pull out the old stuff and stuff in the new stuff.
Post removed 
Thank you for your input!  I played some bass heavy music that chewed the rest of the foam to shreds... probably won't worry too much about this as I plan on curving the response of this speaker off at 80hz so bass Bloom won't be a problem.