I've always wondered why teams and their marketing departments have never gone all out to sell the ad space on the cars on a race by race or regional basis. I know there are rules about the colour schemes of liveries from the sport's governors, but some of the lower end teams could benefit enormously from taking more but smaller amounts from sponsors.
Risk of a default on season long contracts is diminished with race by race revenue and with the right sales force much more revenue in total should result. There is also probably an untapped pool of companies, and brands, out there that only want country or regional coverage but would love to be part of the F1 circus when it comes to town. This approach may have saved quite a few teams that have fallen by the wayside over the years, and still could.
Perhaps instead of only concentrating on the cost cap the powers that be should be more pro-active about how teams can vary their livery to aid more race/regional sponsorships. This approach could well have saved quite a few teams that have fallen by the wayside over the years, and it may still.