I'd want to try to attach the tow line to somewhere like the mast foot, and lead it straight forward and over the bow roller.
I would strongly advise against this. The Selden mast foot is well designed for absorbing the loads from a mast, which are almost entirely vertical. It's absolutely not designed to withstand horizontal shockloads from towing a boat and if you look at how the mast is attached to the foot, you will quickly run scared from this idea.
The alumnium toerail integrated fairleads are fairly strong and will handle anchoring/mooring loads. After the storm that smashed in the breakwater here a few years ago, a Bavaria with that design had one of the bow cleats torn out of the deck, but the fairlead was unharmed.
If towing is absolutely unavoidable, rig a bridle and shock absorber and/or use a elastic line (nylon anchor rode). The snatching can be horrendous and boats have had their bow fittings ripped off and anchors bent when towing in a swell.