As fd said, you can redshirt a soph. If he is at a listed position with lots of others with better ratings he is probably more likely to accept. I run my pf and c positions essentially identical with my press teams so it isn't unheard of for me to have 5 pf or 5 c on the roster some years. In those cases I have even had juniors take an rs without fuss.
If the kid isn't signed, I believe informing of the redshirt will erase all promises, but you will then have to sink more cash in and if you battled for them they may start reconsidering you opponent. Definitely need the cash to consider it and I am not 100 percent on the promise cancellation as I have never tried it personally.