1974 Ford Bronco - Odd starting

I have a 1974 Ford Bronco with an electronic (pointless) ignition. Most of the time the engine will not start until I release the key from the “start” position. When the key returns to the “run” position the engine then starts. The engine will not fire as long as the key is in the “start” position. Can you tell me why this is? Thank You, Aaron

Couple be a couple things.
On the starter solenoid, one of the 2 smaller terminals should be marked with an “I” should be a wire connected to it that goes to the + side of the coil.

With key off, engine off, check with ohm meter to see if that wire is good. or run a jumper wire from “I” to +

If that wire is good, With a test light or volt meter while someone is cranking engine test the “I” terminal on the solenoid to see if it has voltage, if no voltage while engine is cranking, replace solenoid

I think your Bronco is toast, I’ll bring a trailer tomorrow and collect it…