Well...I think I am using "sketchy" in the sense that the business model just not make sense to me.I linked a pretty good article below from Forbes detailing it.Seems they are mostly running on investor money for the time being, which is understandable to start. They expect to turn a profit in Chicago and give it about a 50% chance to be profitable in Toronto in 2017. They are also reporting 6 figure revenue, which could mean 100k or 900k. Either is pretty small I think. The 50% chance to turn profitability in a market of 6 million people does not seem like a good sign to me either. There are 4 teams in Toronto - the Raptors, Blue Jays, Maple Leafs, and Toronto FC. Meaning they need 8,000 subscribers in a market of 6 million people, or roughly 1/10th of 1% to turn a profit and they are not sure if they can do it.
They are saying they need a little under 2,000 subscribers PER team PER market to turn a profit. So Jason Llloyd, the Cavs beat writer, himself needs 2,000 subscribers and those subscribers would generate a whole 100k in revenue. Now I'm not a genius but in the NBA season you have 41 away games, plus playoff away games, plus a few preseason away/across the state games. Heck..you could even throw in summer league games if they want to send him there. I'd have to be convinced that all of that travel isn't close to 100k in itself across a whole season. And I sure doubt Lloyd is jumping ship for to work for free or a pay decrease.
FINALLY they are getting some good writers, I will admit that. HOWEVER, why would I or anyone pay for their analysis when you can get it for free from various other sources? Its not like whoever now writing for The Athletic all of the sudden has access to insider information that will make people want to pay for their service.
http://www.forbes.com/sites/darrenheitner/2017/01/10/why-2-1-million-was-invested-in-a-sports-news-subscription-site/#c1405e142c41