Suggested

Change sponsors at anytime.

At the moment you can’t change your mind after signing a sponsorship for ten races.
This is a problem because you can’t cancel the sponsors in favour for a better offer that may come along later.
Maybe sponsors could approach you as well as you approaching them with an opportunity to negotiate the offer based on your team’s performances on track.
Not just this is your level so this is what you get so to speak.

In real life you have to pay a penalty. It isn't so simple.

Anyway in this game sponsors have fixed amounts. You did a mistake since the start of your sponsorship if you want to regret your choice.

The only change is when you level up but at most you will earn less for 9 races. While we have this system it doesn't make sense cancel sponsorships.

A deeper mechanic like bonuses based on your result in a "home race" or a driver's result would make reasonable your suggestion.

I don’t think you understand me. You could change your mind midterm. Maybe I miss worded

No, I understand what you meant. What I said is that if you change mind mid term then you have to pay a penalty but as I said there is no gain using current system.

We all prefer iRacing as primary sponsor because you can exchange tokens for cash, which is the best choice (especially when there is a special offer) because there is no chance to do the opposite.

About secondary sponsor it's up to you and your will to challenge yourself (even if there is no gain).

The game economy is not challenging because you should hire drivers from driver academy to save money because of their low wages. So game money is not a problem and I confirm what I said.