1. Place a pot over medium heat, pour olive oil, and cook onion, carrot, and celery until browned.
2. Throw garlic, bay leaves, and tomato paste in pot. Stir and cook for about a minute.
3. Stir in balsamic vinegar, red wine vinegar, and wine. Bring it to a boil. Reduce the heat, and simmer until it reduces by two third.
4. Pour chicken stock, stir and bring it to a boil. Simmer and reduce it again by two third.
5. Strain, discard the solids, and put the sauce back into the pot on heat. Simmer and reduce to right consistency.
6. Season with salt and pepper.