Steering wheels are quite expensive to recover, something like £130-£150.
If you want to try and restore it a bit, try shampoo (hair shampoo!) and an old tootbrush, then some leather cream.
If it's the colour that's coming off/worn through either try Jake's method or maybe look to cobblers for some leather products?
The
badge does actually come straight off, but I think you'll knacker the
badge and the surrounding leather if you tried!