Clunking noise in 17 yr old Maytag Washer

Over the last few weeks I’ve noticed my washer is making a really loud clunking noise when it goes switches from agitating to drain/spin. And then again after the rinse when it goes into spin. Does anyone have any experience on this vintage of machine, I’m thinking maybe this is the transmission. What will happen if it is the transmission? Will it just freeze up or could I end up with grease on the floor, etc.?

Any info would be great!