jaycee,
there are alot of other factors that I'd need to know to tell you if it was worth it or not, but a WE of 26 is not good at all, but if he is already high in some core areas it might not be that bad.
It will hurt his progress a lot
He most likely will not leave
I would sit him the first six games of the season and not let him play a minute then try again.
IF you have two other guys at his position that will play ahead of him already it makes it a little easier, but remember 26 WE is not going to be good in the long run
If it were me, I'd take the redshirt away and play him