Someone brought in this reel after they tried to service it themselves.
The symptoms were no drag and no freespool when the preset dial is tightened.
The first thing I noticed is the flat Bellville washers and the slack between the left side spool bearing and the retaining clip. This should be tight. They were changed to the heavy spring washers for the TLD 2 speeds and that fixed that.
The pinion bearing was changed, drag lever, preset dial.
Assembled and the same no drag and no freespool. 2 hours later, and double checking everything again, this is what I found.
The brass "nut" molded into the right side plate was spinning around. I guess he tried to take it off.
The drag won't work because of this and he will need a new side plate if he wants the reel to work again..!!
Don't touch that nut..!!
Glad you found the problem. I wouldn't have expected that.