TE stick... stick problem

This is the 2nd time this has happened to me. I think it happens when I press a direction too hard, bu the actual stick stops working. I opened it up and narrowed it down to the only thing that could be wrong with it. This piece:

Can anyone tell me if theres a way to fix it, or if I need to purchase a new one. thanks in advanced.

You have to purcahse a new one.

Lizardlick sells replacements: http://www.lizardlick.com/pages/joysticks.shtml (towards bottom of the page)

Gamingnow also sells them as well : http://www.gamingnow.net/joysticks/sanwa-joysticks/jlf-tp-ma

Thanks so much man.