Adding to buddha's list, I believe players will also transfer if they get fewer minutes than they think they ought to. Usually they just complain and drop WE, but I believe there is an extremely thin chance they walk over it. I've tried unsuccessfully to intentionally trigger that sort of departure.
As far was the situation you describe though, the WE hit is all that will occur. If you're good with the WE, then just leave the redshirt on and enjoy an extra season of goodness.