2004 yamaha R1 turns on fuel pump sounds and it just cranks til battery dies and I can smell fuel coming out the rear pipes.

So its getting fuel. Have you checked the spark by taking out a plug and holding it against the engine casing? Look at the colour and strength - may be the caps, HT leads or coil needs repacing.
Next compression. as the the plug is out, place your thumb over the plug hole and turn the engine over, your thumb should be firmly pushed off the hole. Might be new rings needed.
Then Air, pop your filter off and turn the engine over, if it runs then replace with a new filter.

If all the above are ok then give your carbs a good clean out...

First simple test is to see if the panic stop( engine kill switch) has been moved to off position. next is to see if there is spark--immobiliser or electronic fault.