Beyond this one play, the best thing for current squad if we can't add 2-3 signings in defense with the current financial situation would be to sell Aruajo for a decent offer and use the money to sign Tah on a free (not great, but probably better than Araujo on the ball and similar in the air) + 2 fullbacks.
If we could do the moves we need while keeping Araujo, would not be a bad idea either to keep him and hope he improves. But as things stand, even if he doesn't bring a lot of money, he is the easy one out. Even for 35-40m.