When I had an old Powerdrive I ran it through the release handle and just made a zip tie loop on the motor base that allowed the cable to slide and not get wrapped up in anything. I pulled the cable tight around the motor head and lower unit, then used zip ties on both ends of the shaft to keep it there.
I ordered a cable saver from Cornfield Crappie. I used hose clamps to hold it and the transducer on the motor and used another one at the top of the cable saver near the head. Works great.