I had the same damage after a blowout. To fix it, I used some 1 x 2 to make a surface where I could screw something to as there were just stringers running fore and aft. I glued it in place with liquid nails just inside of the torn edge of the fabric. I trimmed the torn edges of the fabric and then used some vapor barrier fabric from Lowes - had some from a building project. Used Gorilla tape to bind to the old fabric making sure to cover all seams. I then got a piece of thin gauge metal to cover the damaged section, primed and painted it, then screwed it to the existing wood and my new 1 X 2. Aluminum would work as well.
My wheel well was not damaged, but as Westend stated, you could get it decent looking by using a rubber mallet and a backing surface such as scrap 2 x 4 to make it straight. Looks like you will have to remove the wheel to do so. If you can remove the wheel well, it would be easier to pound it out.
Jack the TT up by placing a jack on the axle right behind the brake drum, just enough to let it spin. Maybe a good idea to consult your manual to see if there are specific jacking instructions for your TT.
I replaced my tires with MAXXIS and went up a load range. Discount Tire sells them, but they will have to be ordered. I believe in using OEM parts, but I was swayed by the LT tire camp. But since I don't need to tow at faster speeds than 65, I went with ST. Another benefit is that your TT tires will be balanced. Mine were not balanced by the factory. Don't forget to replace the spare.
While parked, keep them aired up and covered. On the way to the tire store, I noticed another tire wobbling. The tire tech told me it had most likely separated - they were Tow Master tires.
Be sure to post your solution! Good luck.