In 1982 Fender introduced their vintage reissue series. These basses were made to replicate the classic late 50's to early 60's instruments of Fender's golden era.
By the late 1970's Fender's reputation was at an all time low. Quality control had been waning since CBS bought the company from Leo Fender in 1965.
In an effort to improve their instruments and save the company, Fender hired Bill Schultz to revamp their guitar and bass models.