Preheat the oven to 375 degrees. Spray a broiling pan with nonstick baking spray and set aside.
Heat a medium skillet on medium-low heat with the olive oil. Add the onions and bell pepper and sauté until the onion is translucent. Set aside and allow to cool.
Place the bread slices in a blender or food processor. Pulse until they form a fine sandy crumb.
Add all of the ingredients to a bowl except for the barbecue sauce. Mix until just combined.
Use a 2" scoop to portion out the meatballs onto the prepared broiling pan.
Bake the meatballs for 15-20 minutes.
Transfer the meatballs to a casserole dish and toss with the barbecue sauce. Return them to the oven for 10 minutes until the sauce is bubbly.
Mix all the ingredients together and cook in a small stock pot until sugar dissolves.
