How about a top down view of the race track?
Kind of like Grand Prix Manager 2. Nothing fancy, but a way to actually watch the race unfold would really add another dimension to the game. This would then add other strategies into the game, like timing your pitstops so you don't get held up by backmarkers etc.
Another idea, how about having AI driver transfers at the end of each season?
And maybe even add some other tracks into the game, and each season the calendar could be different?