Okay, so a split decision. As promised, once I saw a couple of replies, I would reply.. so here it is.
Yes, I think they should. Phil seems to be able to squeeze out winning seasons.. or deep playoff runs.. or even titles, in years one would think his team is "rebuilding".
I see Realistic's point about trading Kobe while they could get some value for him.. but.. I see two problems with that. One.. no one knows how he will come back from his injury, or what his real value is, and two.. the huge contract he has. The Lakers are a rich team, and can afford his huge salary. Many teams would be unable, or unwilling, to foot the bill.
I'd give Phil a one year deal, and see what happens, but I know they have the problem of D Antoni's multi year deal.. so they might not want to spend the money to settle with D Antoni, and pay Phil a big salary as well.