I don't think it's too late - I gelded my 9yr old thoroughbred stallion last year.
He hadn't been ridden since he was a 2yr old and then when they realised he wasn't going to make a racehorse, they dumped in a 100 acre paddock - until they decided they didn't want him in anymore and were going to shoot him. He had a lovely nature as a stallion and if anything he has just mellowed out a little more. If you have the patience and take lessons then there's no reason why you can't do it yourself - if you find it's too much for you then send him to someone who can help (just make sure you ask for help before it's too late tho!)
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