Dead Royal - Help Me Save My Speedo

I have this great swimsuit, a Speedo brand competition suit, style #54934. It is royal blue, over 15 years old (one of my oldest bathing suits) size 34 (bought when I was heavier), and it is dying! It is made of 78% Spandex and 22% Nylon. I took it out the other day to have some fun with it, and it was all sticky! Not because of anything that got on it, but because the fabric is degrading. The Spandex part is all falling apart. I am left with a very loose fitting, thin fragment of it’s former self as you can see from the picture.

I know that in time, the Spandex remnants will melt out, and I will be left with a very interesting suit, but right now it is too sticky to wear and I do wish I could save it. Does anyone out there know what I can do to help me save this great, but dying Royal Blue Speedo?