TEAC x-2000r record mode stuck. Record light flashes but won't play. Any ideas?

Hello. My x-2000r was working just fine today until I went to play a 10.5 inch reel this evening. The record button keeps flashing and it will not play any tape. I have pressed the stop button several times, unplugged it, but when I turn it on the record button flashes and it will not permit me to play a tape on it. When i press the play button nothing happens and I can't stop the record button light from flashing. Any ideas? Is this an issue with a belt? Thanks a lot.