Welcome to VK
That's a very nice set and I believe I have a replacement knob for you. Is it red plastic ?
Last summer I picked up a similar Motorola 12K2 full of insert holes
I like to restore my sets to full working condition as do many others on this forum. Check out that link to Phil's site and peruse some of the restoration threads in this forum to get an idea of what's involved.
I have all the new parts to restore this set, but not the time. Maybe in the spring...