97 Yamaha v max bogging down and not starting

I have a 97 Yamaha vmax 500 that was running great until today, I was going a across a field and it started to lose power it sounded like it was either sucking air or flooding itself out. It got to the point where I couldn't go faster than 20mph and then it died. It took 40 minutes of waiting until it would start again, I don't know much about these.. Any help would be appreciated

97 Yamaha v max bogging down and not starting