Might could just adjust the bearings. I'd disassemble it, clean, lube and reassemble and see what it does with properly adjusted bearings. It is the old style bb with spindle, bearings and cups.... right?

Depending on what you are seeing and how much, a little play is not too terrible a thing.


I'm assuming the bb is for an old trek 330 since that's you tag. But it'd really help if you gave some more info on what it is.