Chairman Ron Palenski said his union believed if it was successful in the first two years, the format would last beyond 2012.
"I'm delighted that all the rubbish of the last six months is behind us," Palenski told the Otago Daily Times yesterday.
"We know where the competition is going and everyone is going in the same direction."
Palenski said it would be a truncated competition in 2011 because of the World Cup but he expected it to settle into a pattern the following year.
He had few concerns about Otago not making the cut for the top seven next year.
"That's our challenge," he said. "We must finish seventh or better. We have the players who are capable of getting us into the top seven."
Palenski said the long-term viability of the competition was tied up with the player collective agreement which is negotiated every three years.
"I can't think of any reason why they would not re-negotiate," he said.
He said the ORFU was happy with the reduction of the salary cap to $1.35 million.
"It's much more realistic. It's down to a level that most of the provincial unions will be comfortable with."
The change in the Super 14 contract arrangement would also help the provincial unions.
"The Highlanders can contract players directly," he said.
"It will remove a significant financial burden from Otago."
Palenski said a few disappointed people had telephoned him after the appointment of Australian Phil Mooney as the Otago coach.
"It was nothing out of the ordinary," he said.
"But they were were not all negative calls.
"I'm confident that we conducted a rigorous selection process and have appointed the right person who will bring Otago back to the top seven next year."
