Leo Fender and George Fullerton launched G&L in 1980 at the old Fender factory on Fender Avenue in Fullerton, California. The L-2000 was the first bass released that year, carrying model number 2000 and featuring the newly patented Magnetic Field Design pickups wired to a three-knob Tri-Tone preamp.
By 1983 the control plate gained a push-pull switch for series/parallel operation on each pickup. In 1992 G&L moved production to a new facility on Edison Way, and the preamp circuit was revised to run on a single 9-volt battery instead of two. These later boards are quieter but lack the headroom of the 1980-1991 versions.
Session bassist Nathan East used an L-2000 on several Eric Clapton tours in the late 1980s. Collectors note that very early pots from CTS often develop scratchy taper by year 25, while the original chrome bridge plates can pit if the plating was thin. The model never achieved mainstream rock-star status, which has kept supply low and prices steady among players who prefer the narrower 1.5-inch nut width over contemporary Music Man or Fender options.