Help with soft top

I got a soft top the other day for a deal that, given the situation I am about to show you, seemed too good to pass up.
A little explanation for those who may not be able to notice through the picture/video:
The nose of the board what I would call an air bubble (Similar to an air bubble you may get in a sticker or wall paper). There are three holes forming a triangle that I am assuming the previous owner did to relieve the air trapped underneath. In the video, you'll hopefully hear that when I press down on a side where the air is captured, it will force the air to release through one of the holes.
Video: https://www.youtube.com/watch?v=u_dGWGr ... e=youtu.be
My question then is:
(1) Will this board take water that will ruin it?;
(2) How can I fix this potential problem?
Thanks everyone.