Back in March, Nintendo said a 2015 release for The Legend of Zelda Wii U wasn't a "number one priority” for the team. Now, it seems as though a 2016 release isn't a priority either.
If you look over the Nintendo financial report [PDF], you will see the firm's first-party and third-party release schedule. There aren't any surprising dates listed, other than The Legend of Zelda Wii U.
The first-party release schedule contains a few 2016 release windows for games such Mario & Sonic at the Rio 2016 Olympic Games, and a couple of others.
The Legend of Zelda is listed underneath the 2016 releases, as TBD along with Project Giant Robot.
While this doesn't necessarily mean the latest Link game has been pushed into 2017 or later, it's rather disconcerting to see it listed as "TBD". Should the game be pushed into 2017, it's possible producer Eiji Aonuma and his team are planning to release it on Nintendo NX instead of Wii U.
Of course, this is all conjecture, so keep that in mind.
Aonuma said previously rather than meeting a specific schedule for the game, the team wants the next entry in the franchise to be a “complete and ultimate Zelda game.” The added time will be used to create a game which will reward fans for their patience.
Zelda fans want the next console game in the series to be great, so for many of us, we'll be content to wait as long as it takes.