Buy a New M3 Boot
Just buy a replacement M3 boot to match what you have. Should be around $170. Save it for when you resell the car. Then take the one that is in the car and remove it, cut the knob off (attached to the boot) and replace with the new shift knob on top.
There was a post a while back showing how to turn the boot inside out, fix it with a twist tie type connector and then push the knob down on top of it. It looks great.
Good luck.
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