If Chad Ford were talking about murder, I'm sure he would have phrased it differently. Who wouldn't? In the context of a basketball discussion, however, his meaning is perfectly clear.
Try it this way. An art teacher, glancing over her pupils' shoulders on the first day of class, spies an especially good drawing in the process of being completed. "You could be the best student in my class!" she exclaims.
This doesn't mean the student needs to work harder, learn more about colors, or develop a more refined touch. What it means is that the student MAY be the best artist in her class already, but she just isn't sure. She needs to see more from him over the coming months to determine if he really is the best.
That's exactly what Ford is saying. The Blazers bear watching, because they "could be" the best team in the West.