NOLA and BGIF know far more about the NCAA rule book than I do, but you're missing
one half of the penalty:
EV would have to: (1) pay his own way as a Freshman; (2) sit out his Freshman year; and (3) give up another year of eligibility. So instead of having 5 years to play 4 seasons, he'd only have 3 years to play 3 seasons. That's a serious risk for him, because he'd be one season-ending injury away from losing half of college eligibility.
The smartest play for him is to come play at ND for a year, and if he still wants out, to transfer immediately after the 2013 season. Then he could red-shirt during his sophomore year, which would run concurrently with the 1-year transfer penalty, and still have 3 full years of eligibility at the school of his choice.