Combine all the ingredients for the red wine reduction in a large pot. Bring to a simmer over medium-high heat and allow the liquid to reduce for 45mins.
Season the short ribs with salt and pepper and lightly dust with flour. In a heavy skillet heat the oil over high heat until it reaches it's smoke point. Sear the shorts ribs on both sides until golden brown and crusty.
Set the short ribs aside. Add the vegetables, thyme and bay leaves to the reduced red wine reduction and toss. Now add the short ribs and the stock. Place the pot into a 325 degree oven for 2hours, until very tender.
Transfer the meat to a heatproof container. Strain the braising liquid through a fine sieve and pour over the short ribs. Allow this to sit overnight.
To serve, remove any solidified fat from the top of the liquid. Place the elk in a 400 degree oven with a little liquid until warmed through. Meanwhile reduce the remaining braising liquid until it has a sauce consistency. Spoon the sauce over the shorts ribs before serving.