I used to have some td1 and td2 reels, but it's been a while. Im going from memory, so if I say something stupid don't tell anybody.
Take the side plate off. Rotate the outside braking dial. Does the magnetic ring rotate?. If it doesn't, I seem to remember that on the td1, it is possible to put it back in place without the gear teeth meshing with the gear turned by the dial.
If the magnet ring rotates, then snaps back , the ring magnet has come loose from the holder, a not uncommon problem with the early Magforce reels. It can be glued back in place.