His sire was Bold Bidder, stakes winner of 13 races who also sired the 1974 Kentucky Derby winner, Cannonade. His grandsire was Bold Ruler, a U.S. Racing Hall of Fame inductee and an eight-time Leading sire in North America. His dam was the gray mare Spectacular by Promised Land, who, as a descendant of the broodmare Fly By Night, was a member of the same branch of Thoroughbred Family 2-d which also produced the Kentucky Derby winners Northern Dancer and Cannonade. Spectacular Bid was inbred 3x3 to the stallion To Market, meaning that this horse appears twice in the third generation of his pedigree. As of 2012 he remains one of the two most inbred Kentucky Derby winners in the last 50 years (Big Brown was similarly inbred to Northern Dancer).