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Step 1
Preheat the oven to 375 degrees F (190 degrees C). Line a sheet pan with parchment paper.
Step 2
Heat olive oil in a 10-inch nonstick skillet over medium heat and cook onion until softened, about 2 minutes. Add garlic and cook until fragrant, 1 minute more. Remove from heat.
Step 3
Combine Italian sausage, ground beef, bread crumbs, cooked bacon, egg, salt, pepper, and the contents of the skillet in a bowl. Using your fingers, combine ingredients until they are well mixed. Form into about 14 meatballs, 2 inches in diameter, and place on the prepared sheet pan.
Step 4
Bake in the preheated oven until no longer pink in the center, 20 to 25 minutes. An instant-read thermometer inserted into the center should read 165 degrees F (74 degrees C).
Step 5
While the meatballs are baking, make the glaze. Combine water, maple syrup, soup base, and cayenne pepper in a 10-inch, nonstick skillet over medium high heat. Bring to a boil and reduce heat slightly. Boil until reduced by half, 8 to 10 minutes.
Step 6
Remove glaze from heat and allow to cool. Use a rubber spatula to scrape down any syrup that clings to the sides of the skillet, and stir back into the glaze.
Step 7
Place meatballs in a serving dish and drizzle glaze over each meatball. Top with cooked, crumbled bacon and serve warm with toothpicks.