Power Balance come clean and offer refunds after admitting wristbands do not enhance performance

Manufacturers had claimed that the wristbands, sported by the likes of Kevin Pietersen, David Beckham and Ian Poulter, helped improve an athlete's strength, balance and flexibility.

But amid ongoing scepticism regarding the £38 accessory's supposed benefits, Power Balance have confessed they have no credible proof to support their assertions and have offered customers a refund.

A statement released on the company's website read: "In our advertising we stated that Power Balance wristbands improved your strength, balance and flexibility.

"We admit that there is no credible scientific evidence that supports our claims and therefore we engaged in misleading conduct in breach of s52 of the Trade Practices Act 1974.

"If you feel you have been misled by our promotions, we wish to unreservedly apologise and offer a full refund.

"To obtain a refund please visit our website www.powerbalance.com.au or contact us toll-free on 1800 733 436. This offer will be available until 30th June 2011."

In October last year, sports psychologist Roberto Forzoni, who has worked with the Football Association and the Lawn Tennis Association, described the bands as "gimmicks".

"As with many of these gimmicks, athletes look for a quick and easy solution to avoid having to address the real issue – whether that is a lack of effort or a lack of talent – or to enjoy the sense of belonging to an elite group, and having the false idea that it must work if elite athletes are wearing it," Forzoni said.

However, the bands have not proved a disappointment with everyone that has been approached to try them.

Huw Davies, the head of strength and conditioning at Wasps, said that a number of the players had hoped that the bands would be "a load of crap".

"Some of the players almost wished that the bands would not work, they hoped that it was just pseudoscience, but then they saw their results in the gym and they were much better," Davies said.

"The bands have helped a number of players with their rehabilitation from injury. It seems as though there is something to it. Six of our players use the bands in training, and two or three of the guys wear them during matches. Some of the players have reported experiencing better balance, strength and flexibility when wearing the band.

"To the sceptics, I would say, 'keep an open mind'."