Mavericks owner Mark Cuban cuts a $19-million deal for Laguna Beach home

Mark Cuban, the billionaire, television personality and owner of the Dallas Mavericks basketball franchise, has a new vacation spot to spend his off-seasons. He’s paid $19 million for a home in Laguna Beach.

The contemporary-style home is found within the Montage, a resort community that overlooks the ocean. Built in 2010, the stone-finished house has a gated courtyard entry, high ceilings, Mahogany finishes, six bedrooms and 7.75 bathrooms. There are bi-folding walls of glass in the common areas for indoor-outdoor living and entertaining.

A center-island kitchen, two family rooms, an office/den and a formal dining room are within about 7,900 square feet of interior space. On a lower level, reached by a floating glass staircase, a media room boasts a wall of flatscreen TVs. A wet bar and a glass-enclosed wine cellar complete the space.

Outside, ocean views and lush landscaping create a backdrop for a swimming pool and a fire pit. A built-in barbecue area sits nearby.

The property had been on the market since January with an asking price of $25.995 million, according to the Multiple Listing Service.

John and Tyler Stanaland of Villa Real Estate were the listing agents. Tim Smith of Coldwell Banker Residential Brokerage represented Cuban in the deal.

Cuban, 60, co-founded the internet radio company Broadcast.com, which was sold to Yahoo! during the dot-com boom of the 1990s for $5.7 billion in stock. He purchased a majority stake in the Mavericks in 2000. Under Cuban’s ownership, the team won an NBA title in 2011 and is now valued among the top franchises in the league.

He has appeared on the investment reality series “Shark Tank” as a panelist since 2011.

neal.leitereg@latimes.com | Twitter: @LATHotProperty