I'd take it...and use for picnic/sports event/charity quilts.
I use flannel and muslin for the backings, not a knit...but you could.
It's heavy, so a lightweight batting (I use flannel or the thinnest polyester I can get).
If it's more like a t-shirt knit...stabilize the material by applying a lightweight, non-woven fusible interfacing to the back of the fabrics to prevent stretching.