Step 1

Preheat oven to 375 degrees. In a bowl, combine wine and saffron.

Step 2

Season chicken with salt and pepper. In a large Dutch oven or braiser, heat oil over medium-high. Add chicken, skin side down; cook until browned, 6 to 7 minutes. Flip and cook 2 minutes more; transfer to a plate.

Step 3

Drain all but 2 tablespoons fat. Add onion and garlic; cook, stirring often, until translucent, 4 minutes. Add tomato and cook, stirring often, until softened, about 5 minutes. Stir in wine-saffron mixture, bay leaves, 1/2 teaspoon salt, and 1/4 teaspoon pepper. Cook until wine is nearly evaporated, 5 to 8 minutes.

Step 4

Stir in rice, broth, and olives. Nestle chicken into rice, skin side up. Bring to a simmer, cover, and transfer to oven. Cook until liquid is absorbed and chicken is cooked through, 25 to 30 minutes. Let stand 10 minutes before serving.