Thanks everybody for your feedback.
Today, ?? Years later, the cruise control is back to live.
As suggested below, I changed 3 capacitors on the cruise control board, and fixed the Bowden cable by connecting an extension coming from a brake/clutch repair kit ordered on Amazon.
Total cost of the repair, $5 the capacitors and $10 the repair kit. It took me a couple of days doing research trying to figure out what was doing. I might now use it very often from now on, but the satisfaction for being able to bring it to life is priceless.
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