You should consult a sail loft for the best repair. A dealer could get you some scrap red cloth if needed. Sail tape or a glue to keeps fibers from unraveling would work.
The Tear Aid shown on page 37 of the current parts catalog would work. Use type A.
Tear-Aid Type A is applied to Canvas, Rubber, Neoprene, Nylon, Most Fabrics, Plastics, Sunbrella, Gortex, Polyethylene, Polypropylene, Polyurethane, Non-oiled Leather, Acrylics, Fiberglass, Aluminum, Polyester, Hypalon, Dacron... (Do not apply Type A to vinyl). If the top layer of the product you are repairing is any of the listed materials you will use Type A.
Tear-Aid Type B is to be applied to Vinyl and Vinyl coated surfaces only. If the top layer of the product you are adhering the patch to is vinyl or vinyl coated you will use Type B.