9 Suggestions so far

1) Too much money - You start with too much money; you get too much money during the season, and you can continually develop everything while upgrading all buildings and paying crazy bonuses to fancy drivers if, like me, you fire the fancy driver and use a rookie you have more money than you can spend, all the time! It's game-breaking.

2) Due to the amount of money, research and development are forever-ongoing activities at the maximum cost (see 1). R&D is already quite unbalanced (especially if Min/Max) as we can do much more than the AI. Obviously is a relative thing per se; if AI could R&D as crazy as a player can, it wouldn't probably be so unbalanced, but I would say AI does 1/3 of what a clueless player can do in one year, and if the player is min/max AI will improve 1/10 compared to a player! Add to it that there is no chance that a research/dev fails or comes out not so good! That should be addressed with a minigame connected with the practice, in my opinion (see 5), to keep practice relevant.

3) Contract needs to be revised to make more sense; you should be able to hire for next season or right away with a different cost, and hiring a fancy driver should break your bank (still problem one). Especially as an unknown team to get a star driver, it should cost double or triple that if a popular team offers him a contract.
Anyway, you want to make it maybe more interactive, more like a minigame (like the setup); the closer you balance the various money reward bonus, the higher chance you have to hire while striving to keep it as low as possible (graphically, I mean more like the setup with a range in color). It should be your team's stats, and fame, to govern those areas, and wherein the range you should put your offer. (while scouting and special building could help minimize the range or move it down depending on their upgrades)

4) Advertisement seems shrunk down to a few options at the beginning of the year and some silly race-based options that barely give money compared to how much you get anyway (see 1). They are a pretty useless waste of time since money is absolutely no problem, and they give so little. Instead, they should be what makes the difference between going red and staying afloat! (if money were balanced). You should be able to sell space on the car for extra ads (maybe only after upgrading some building, especially as the upgraded building cost/maintenance will harm your budget); each contract should have a different option and weird conditions, some be attached to some lame pilot or engine or development goal/restrictions, maybe more variety.

5) Setup stuff is okay the effect of your setup (extra point per pilot stats) is the easy way out; it works for me, but the range is too small; we know AI gets between 60-70% human without cheating 80/90% and cheating (with the site) 100% all the time (so the real difference, what really factor in, is just a bunch of points like +/-5 at best). The problem I see here is that the player with the guide on setups will always get 100% unless lazy, so widening the range would work well theoretically only with an honest player who tries to deal with it without cheating. Still, even so, it's hard NOT to get 80-90%, so you don't have very much variance anyway.
At this point, it probably makes little sense; I would keep it automatic!
Add a stat in the pilot, "ability to set up the car," and make them pilot-dependent. At the same time, you can train that ability with points or facilities that, in the way, we will not all go with a 100% setup because we all use cheats (and if the morale is low, give him a chance to it up). This will make the practice useless as they stand (setup), but you could connect the practice to some development chance of success/bonuses of various parts with some minigame. (see 2)

6) Qualifications, on the other hand, are absolutely pointless to manage right now! You probably get better results in automatic as the AI can avoid traffic much better (in my second replay, I made them ALWAYS automatic and never play them once!). It would be cool if we could influence them more or have any meaning.
I don't mean the problem most players have with blue flag slowdown and other semi-broken little things. I would make a minigame here during the fast-lap where you should pull out something with which the player can interact. Skill & Reflex, the player, could help the driver achieve a +/- .3 sec per lap, so you will force the player to follow the fast lap while clicking or interacting during breaks or curves to influence the pilot to break-point/trajectory/acceleration and achieve the best result. (I was thinking something similar to the golf game where you have to hit a bar in the right spot or select very quickly between trajectory a/b/c! Not something that can be cheated like setup using guides or sites)

7) the race is fine. There are tweaks to do at tire and DRS, but even if everybody is crazy mad about it, those are values that are easily fixable as long as the core concept is correct. I don't have much to say yellow car, red flag, blue car, one lap behind all details relatively insignificant in my gameplay. I hope they fix them, but they never broke any of my eight seasons. (♥♥♥♥ happens and sometimes you have to accept it even if real life!)

8) Buildings are so static it shows you didn't have much time to finish the Game. Each building should open a new screen with tons of options that grow exponentially as you develop the building more things for the morale (while making morale much more influencing the race effectiveness of pilots), more stuff about training with more focus on whatever you think is worth it maybe more interaction with the board where (once we fix point one) you can ask for more money or change contract requirement or goal and so on. You can get wild with options in those buildings! (some could even fix the advertisement lameness). Morale should be a money sink in a building making activities to "buy" morale and the stat should affect much more the pilot stuff and everything related.

9) Last but not least, the design of the car (mostly color and small detail) customization always makes the Game longer, especially if you make those changes that cost money. And if you get rich enough buy the team and change the name haha! (it could be an extra goal to make it longer!)
it can sink some of the money and can make the player have fun with colors, design, and achievements maybe making it building dependent and making it that it takes one year to build so nothing can be changed in season 2022. You won't break the realism/contract with the license
 
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