My wife got me a Momo Race steering wheel for Christmas for my 1973 914 2.0.

The hub is the Momo 8002, Performance Products p/n 908253.

I removed the turn signal cancel ring from my original wheel and installed it on the Momo adapter. Attached the wheel to the adapter and slipped it on the shaft, putting the washer and nut over the Momo adapter.

I snugged down the nut and the bottom of the Momo adapter fit so tight against the steering column, I couldn't turn the wheel.

Thinking Performance Products sent the wrong adapter, I ordered another one with the same issue.

Anyone have any ideas?

It sounds like you need a spacer.

looks like you have the right part. make sure you don't over tighten the nut. also make sure the splines line up, forcing it could strip your shaft and your hub might also get stuck.

I think I have a circlip installed on the shoulder just below the splines on the steering shaft. Without the circlip, mine did the exact same thing that you are describing.

Let's look for a pic.....

It may be a little hard to see in the pics, but it is there.