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Preheat oven to 350 F. Line a rimmed baking sheet with aluminum foil (for easy clean-up) and spray with cooking spray.
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Add all of the ingredients for the meatballs to a large bowl and use your hands to combine until evenly distributed – try not to overmix. Using about 2 tablespoons of the mixture (I just eyeballed it), form the meatballs by rolling the mixture into a ball in your hands. Arrange the meatballs on the prepared baking sheet. Bake for 15-20 minutes, or until browned and cooked through.
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To make the sauce: Whisk together all of the sauce ingredients in a small pan and place over medium heat. Bring to a simmer and cook until the sauce thickens slightly, about 10 minutes.
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When the meatballs have finished cooking, remove them from the oven and brush liberally with the sauce then return to the oven for 5 minutes. Serve with remaining sauce.