Step 1

Rest the steaks at room temperature for 20 to 30 minutes.

Step 2

Meanwhile, add the bacon to a large skillet and place over medium heat to cook until crisp, about 6 to 8 minutes. Remove the bacon to a plate or bowl leaving the fat behind and add in the mushrooms. Season with salt and pepper and cook until lightly golden, about 5 minutes, stirring occasionally. Add the cocktail onions and continue to cook until the mushrooms are golden brown, about 5 minutes.

Step 3

Peel and mince one clove of garlic and add to the pan. Cook for 30 seconds. Transfer to the plate with the bacon. Increase the heat to medium-high. Dry the steaks with paper towel and rub with olive oil. Season well with salt and pepper. Add the steaks to the pan and cook for 3 to 4 minutes per side, or until deeply golden brown and cooked to medium-rare. Use tongs to hold each steak on its side to render the fat cap, about 1 minute. Remove the steaks to a plate or cutting board, tent loosely with aluminum foil and allow them to rest for 10 minutes while you prepare the sauce.

Step 4

Reduce the heat to medium. Add the butter, thyme and remaining clove of unpeeled garlic. Cook for 30 seconds. Sprinkle in the flour and whisk together, then add in the tomato paste and cook for about 1 minute. While whisking, slowly pour in the wine and beef broth. Bring the mixture to a simmer and cook for 5 minutes to thicken. Add the sugar as well as the mushrooms, onions and bacon into the sauce and continue to simmer until thick and heated through. Season to taste with salt and pepper and keep warm on low.

Step 5

Slice the steaks into 1-centimeter (1/2-inch) thick slices and divide between two plates. Spoon the sauce and veg over the steaks and serve topped with some fresh thyme leaves.