Wrap bacon around 1 bunch of fresh thyme. Pour 2 tablespoons of olive oil into a large saucepan over medium heat. Add the bacon and thyme bundle and cook for 3-4 minutes to render the bacon fat and give the sauce a nice smoky taste.
Peel 1/2 onion and 2 garlic cloves and chop finely, and add to pan. Cook for 5 minutes. Add all other ingredients….. 2 cups ketchup,, 1/4 cup brown sugar, 1/4 cup molasses, 2 tablespoons red wine vinegar, 1 tablespoon dry mustard, 1 teaspoon ground cumin, 1 teaspoon ground paprika, and some freshly ground black pepper to saucepan. Give the sauce a stir and turn the heat down to low. Cook for 15-20 minutes to meld the flavors.