Well John depending how much is still hanging out the base I would take this opportunity to get rid of the old interconnects and funky plug.
Ok got it....The wire is cut right at the base. We cannot get to any of the tonearm wire. You can see it, but just cannot get to it to attach to anything.
run some extra wire out the base of the arm and get to the back of the table and install RCA jacks if you want your choice of cables for the TT.