It might be phytophthora. It kills the tree from the root and makes it stink in a fermented kind of fashion like that. If its still alive it is plant sap exuding from the root area and fermenting on it own. If its alive and its a tree you can coppice you might see new growth.

The middle being rotten is kind of irrelevant as its not really alive. The living part of the tree is the outside or cambium layer as the tree was likely cut by the lightning and had hole in it it could rot out on the inside and still be alive but usually will fail in a strong wind as it is structurally like a straw rather than a solid stick. Cambium layers graft together when placed next to one another so t hat why the ratchet straps likely helped.

If you don't mind a stump leave it alone. If it doesn't regrow, stinks and something else randomly dies its likely phytophthora. There are friendly bacteria I have used to repurpose this disease into a beneficial. If you let me know what country you are in I can probably point you in the right direction.