Place stock and saffron in small pot. Bring to a boil then reduce heat to simmer and reduce the stock by half a cup to concentrate flavor, 15 minutes or so.
Place a pot of water on to boil for pasta. Once boiling, salt water and cook pasta to al dente.
Char peppers over stove burner or under broiler until skins blacken. Place in a bowl to cool and cover with plastic wrap. Once cool, peel, seed and chop.
Meanwhile, heat a drizzle of EVOO in large skillet over medium-high heat. Add chorizo and brown. Remove and reserve. Add chicken pieces to the skillet, season with thyme, salt and pepper, and brown. Remove to the plate with chorizo. Add another drizzle EVOO to the pan and the mushrooms. Brown mushrooms alone 5 minutes then add onions, garlic, bay and chili pepper. Season with salt and pepper and cook 10 minutes more. Deglaze the pan with sherry, then slide reserved chicken and chorizo back in. Add roasted red peppers, tomatoes, parsley and reduced stock.
Drain pasta and toss with sauce. Serve in shallow bowls with extra drizzle of EVOO on top and lots of Manchego cheese.