Set oven to 400F.
Set a nonstick skillet on medium heat and add olive oil and red onion. Saute the onions until they are carmelized.
Add the onions to a bowl and add in the rest of the ingredients. Mix and mash them up with a fork.
Form small meatballs with your hands, about 8 ping pong ball-sized meatballs.
Wrap each meatball in 1 strip of bacon and place it flap-side down on a baking sheet/rack.
Bake in the oven for 15 minutes at 400F. For the last 2-3 minutes of baking, set the temperature in the oven to broil so the outside gets a little crispy.