The Division won't be coming this year after all. Ubisoft announced today that it has been pushed to 2015 for unspecified reasons, though the company still plans to share more details about it at E3 next month.
Word came from an Ubisoft earnings call (via GameSpot). This aligns with a rumor from earlier in the year, when an anonymous Ubisoft developer said the 2014 window was unrealistic for a game this size. Most recently, Red Storm was brought in to lend a hand on the game.