Speaking to GameReactor, the source claimed that while the recently-demonstrated Snowdrop Engine that powers the game is close to completion, only a sliver of the actual world has been built.
“The fact that Ubisoft has gone public with a 2014 release date feels laughable to be perfectly honest.
While unconfirmed, it's certainly possible that the title may have slipped to 2015 considering the fate that's befallen other Ubisoft titles. Last year, the publisher said that upcoming racer The Crew would release in the first quarter of 2014, with The Division following towards the end of the year. Since then though, a number of setbacks have occurred.
Firstly, Watch Dogs was delayed to the first part of 2014, then The Crew was pushed back to the second quarter of the year. While we still don't have a solid release date for The Crew, it would make sense for Ubisoft to want to leave a bit of a gap between launching its titles. This means that the earliest we could see The Division would be the tail end of the year or, as the source suggests, maybe not before 2015, especially as the PC version is planned to be far more than a simple port.