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I once had the outer lip (press fit ring) come off the outer drive pulley, coupled with a tensioner bearing failure (possible cause) the end result was the outer 10% of the belt shredding itself while eating half way through the horizontal belt cover. ‘02 M620ie.
Oil pressure is good, so assume top pulleys are lined up with engine running, most likely suspect at this point is non-OEM (eBay) tensioners.
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