A new β-decaying state in Bi214 has been identified at the ISOLDE Decay Station at the CERN-ISOLDE facility. A preferred Iπ=(8-) assignment was suggested for this state based on the β-decay feeding pattern to levels in Po214 and shell-model calculations. The half-life of the Iπ=(8-) state was deduced to be T1/2=9.39(10) min. The deexcitation of the levels populated in Po214 by the β decay of this state was investigated via γ-γ coincidences and a number of new levels and transitions was identified. Shell-model calculations for excited states in Bi214 and Po214 were performed using two different effective interactions: the H208 and the modified Kuo-Herling particle interaction. Both calculations agree on the interpretation of the new β-decaying state as an Iπ=8- isomer and allow for tentative assignment of shell-model states to several high-spin states in Po214.