I would keep him. The way i've been doing things with my own team is. Build up your young players in games that don't matter or in games you know you've without a doubt. In bigger games play your older players. When you feel that your younger players are ready to take the next step, thats when you get rid of your older guys. For example, Lee quick sat on my bench for the first few seasons, along with Ed. I haven't been as lucky to draft a decent SG,SF yet. But i'm hoping by next season I can have Woody built up to take over for GiGi, or perhaps see what i get out of the draft. But anyways, that's the program I use. Also 32 yrs old, you can still get good games out of him in the mean time. Idk how other coaches do things, but once a player in my starting lineup reach 28, thats when I try to look for a young (18-19) yr old and start building him up. By the time hes 22-23 he'll be ready to be put in the starting lineup. and it just keeps going from there.
Good Luck to you, in whatever scheme you decide to go with