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Considering the age of the machine I'd be looking at basic maintenance first. Things like air filter, fuel filter, carb condition, spark plugs, oil and oil filter change. Then start thinking about valve condition and clearances.
If fresh gas, you should check and replace the air filter (if needed) and remove and replace spark plug(s). Change the oil while you're at it (but this has little to cause the problem you're describing).
pump is suffering excessive oil pressure
you are very short on the details of the failure --broken shaft , gears , chain housing etc but I would be checking oil passage blockages, faulty pump pressure regulator spun bearing that the pump feeds into the oil galleys
You most likely have a wet clutch. Do an oil change! Is it all murky and grey? You need to flush system thoroughly. Buy atleast 3 or 4 oil filters and grab some oil. Get it warm and change oil. Rinse and repeat 3 times. Take for short ride rinse and repeat till oil is clean. Most filters are washable so can be reused. Hope for the best. Mine has been swamped 4 times so far but runs like a champ. Either buy or make a snorkel kit and have fun