NS40C Slowly lost Power and Died - Drained Battery and positive wire hot

My NS40C Slowly lost Power and Died after about 5 minutes of running while taking it out for the first time this season. My battery was pretty much dead and when I checked the leads the positive side was extremely hot. I disconnected the lead and put it back on and the motor turned over but very slow and did not start. I also noticed while hooking it up it there was a spark like it was shorting out. I put new plugs in it before I took it out and like always made sure the water pump was working before I went out. Does anyone have any possible ideas on what could have happened?

Grab your trusty Factory service manual (available from any dealer, including me), and diagnose the motor. Start with the electrical system, particularly the charging system.