Introduction
This replacement requires you to be confident with simple wiring as well as basic soldering skills. If you are unfamiliar with soldering and de-soldering, make sure to check out iFixit's Soldering Skills page before attempting this replacement!
Tools
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Use the pliers to pinch the widest point of the cap. This should be done opposite of the already existing crimps.
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Slide off the white cap.
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Repeat these steps for the second white cap.
 
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Remove the two rubber screw covers from the bottom of the Panini Press.
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Remove the four uncovered 10mm screws with the PH2 Screwdriver.
 
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Lift the plastic lower heating element up and place to the side for reassembly. You have now disconnected the plug wiring completely.
 
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Remove the two 10mm screws connecting the thermal switch with the PH2 Screwdriver and a bit of force.
 
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De-solder the connection between the wires and the thermal switch.
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Replace the thermal switch.
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The lead on the red (with the small hole), marked in red, connects to the white wire.
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The lead on the right, marked in blue, connects to the blue wire.
 
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To reassemble your device, follow these instructions in reverse order.