I would, because Vlaar will be worth nothing next year unless he signs a new contract. I think Holtby has a lot more to offer and has shown very little so far, he was great in Germany, and Dawson (when fit...) is a good centre back.
The biggest issue is...if Vlaar goes are we serious relegation fodder? A non fit Dawson won't save us.
Oh, I also doubt it's a real offer, perhaps a choice of one or the other but not both, plus our wage structure isnt favourable to big earners.
I know it's how football goes, but I would never sell our best defender just because his contract is up, unless the deal was bloody brilliant...getting Holtby and Dawson isn't. Holtby is a class player, sure, but Dawson is cack and has been for a while now. He's only slightly better than Clark, Senderos and Baker...all of which are not good. I'd much rather take the risk of losing him on a free next summer and hope that new owners come in by Christmas and offer him a decent deal.
Are we relegation fodder if Vlaar goes? I think with the bomb squad returning and the new players that have been added we've actually got a half decent squad (in terms of staying up) so we'd cope without him, but I'd much rather have him in the back four.