Combine first 6 ingredients and 1 teaspoon thyme in large non aluminum saucepan. Boil until reduced to 2 cups, about 1 hour. (Cabernet mixture can be prepared 2 days ahead. Cool, cover and refrigerate.)

Preheat oven to 450°F. Place beef, fat side up, in heavy 13x9x2-inch baking pan. Rub beef all over with pressed garlic and remaining 2 teaspoons thyme. Season beef generously with salt and pepper. Roast 1 hour.

Tent beef with foil. Continue roasting until meat thermometer inserted into center registers l 18°F for rare, about 35 minutes. Transfer to platter and let stand 20 minutes. Pour off all fat from roasting pan. Place pan over medium-high heat. Add Cabernet mixture to pan and bring to boil, scraping up any browned bits. Season to taste with salt and pepper.

Pour jus into sauceboat. Garnish platter with parsley, if desired. Carve beef and serve, passing jus separately.