The 50-year-old was cleared of any wrongdoing after an internal investigation by the team over alleged ‘inappropriate behaviour’ towards a female colleague, to which Horner has repeatedly denied.
The Dutchman is contracted to Red Bull until 2028, but a clause in his contract suggests that he could be allowed to leave if Marko or Horner departs, and it is this situation that gives Wolff hope that he can lure Verstappen to the Silver Arrows.
"Max is now in the best car and has a great deal at Red Bull. It's just that the whole working environment there at the moment may not be as it should be,” he said.
"A few months ago I didn't expect that opportunity to be there at all. That Lewis could leave after this year, we knew when he signed his contract. But at the same time, it creates momentum for us now that we have choices.
"As Lewis' replacement, there is only a small group of drivers who are interesting for us. Among them are some drivers who are not going to make any rash decisions. Nor will Max Verstappen decide where his future lies sometime in the next few weeks".
The prospect of Verstappen racing for Mercedes is an incredible thought, especially considering the rivalry that formed in the wake of the 2021 world championship, where the Dutchman controversially beat Hamilton to the title in Abu Dhabi.
Wolff revealed that he has held discussions with Max and his father Jos and is hopeful that they can work together, having fallen out as a result of the rivalry.
"Max, Jos and I have talked about it and everything has been pronounced,” he added. “I think we have always had respect for each other and Jos and I also have the same kind of humour. I think the most important thing is that we both don't like bulls**t.
"Jos knows more about racing than I do, and what about Max. Maybe I know a bit more about running an organisation again. It's unfortunate that there were those moments of rivalry, but maybe they would have acted that way too if they were in my position and I will always defend my own driver.